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:

Persuasion

The act of influencing someone’s beliefs, attitudes, intentions, motivations, or behaviors through argument, reasoning, or plea.

Behavior

The actions or reactions of a person or animal in response to external or internal stimuli.

Globalization

The process involving the integration and interdependence of national economies, cultures, and populations brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.

Individual-level Inequalities

Disparities experienced by individuals in terms of resources, opportunities, and treatment due to their characteristics.