ESOPs Can Qualify as Tax-Exempt Employee Trusts Under Section __________

question 105

Multiple Choice

ESOPs can qualify as tax-exempt employee trusts under section __________ of the Internal Revenue Code.

• A)402(a)
• B)457(k)
• C)401(a)
• D)407(k)

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Definitions:

Irreversible

A characteristic of a process or reaction that cannot be reversed, meaning it cannot return to its original state.

Psychosurgery

Surgical operations on the brain intended to relieve severe mental disorders.

Cingulotomy

A neurosurgical procedure that targets the cingulate gyrus to treat certain mental disorders, such as severe depression and obsessive-compulsive disorder.

Bilateral Lobotomy

A surgical procedure that involves severing connections in the brain's prefrontal lobe, historically used to treat mental illness with often debilitating results.