The Simplicity of SIMPLE IRAs Makes Them Appropriate for Small

question 79

True/False

The simplicity of SIMPLE IRAs makes them appropriate for small businesses with 100 or fewer employees.

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Definitions:

Remedying Ordinary Wear

The act of repairing or maintaining items to address the normal deterioration occurring from regular use.

Interest-Bearing Account

A bank account that generates interest income over time based on the balance held in the account.

Verbal Notification

Informing someone about something using spoken words, as opposed to written communication.

Reasonable Modifications

Adjustments or alterations that can be made without causing undue hardship or altering the essential nature of a job or service, often related to accessibility and accommodation.