Which of the Following Best Describes a SEP

question 40

Multiple Choice

Which of the following best describes a SEP?

• A) The employer or employee establishes and employer contributes to a tax-favorable IRA.
• B) The employer establishes a tax-favorable IRA for the employee.
• C) The employee rolls over an existing IRA to his or her employer and the current employer continues contributions.
• D) The employer creates a taxable IRA to which the employee must make a defined contribution.

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Definitions:

Query

A request for information or data from a database, often written in a specific query language like SQL.

Records

In databases, records refer to collections of related data items, structured in fields, representing a single entity.

Criteria Row

A row in a spreadsheet where conditions are specified to filter data according to specific requirements.

Customer Name

The personal or official name of an individual or organization that purchases goods or services from a business.