Which of the Following Statements Concerning Individual 401(k)s Is False

question 103

Multiple Choice

Which of the following statements concerning individual 401(k) s is False?

• A) In general, individual 401(k)s have higher administrative costs than SEP IRAs.
• B) Employees of the taxpayer cannot participate in individual 401(k)s.
• C) Individual 401(k)s are available only to self-employed taxpayers with 100 or fewer employees.
• D) Individual 401(k)s have contribution limitations.

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Definitions:

Rationalism

A philosophy that emphasizes reason and knowledge as the primary sources of authority and truth, often disregarding emotional or religious beliefs.

Disenchanted

Feeling a loss of belief or disillusionment, especially with something one once regarded positively.

Americans

Americans generally refer to individuals who are citizens or residents of the United States of America, belonging to a diverse society comprised of various cultural, ethnic, and racial backgrounds.

Sharply Intensified

Dramatically increased in degree, severity, or intensity.