Which of the Following Statements Regarding Self-Employed Retirement Accounts Is

question 88

Multiple Choice

Which of the following statements regarding self-employed retirement accounts is true?

• A) A self-employed taxpayer who has hired employees may not set up a SEP IRA.
• B) A self-employed taxpayer who has hired employees may set up either a SEP IRA or an individual 401(k).
• C) A self-employed taxpayer who has hired employees may not set up an individual 401(k).
• D) All of these statements are false.

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Definitions:

Collective Bargaining

The act of discussing and coming to mutual decisions between workers and management on employment terms.

Labor Law Reform

Changes or amendments made to the legislation governing the rights and obligations of workers and employers.

Stalinist System

A political system characterized by centralized control, authoritarian leadership, and strict government regulation of society and the economy, similar to the regime of Joseph Stalin in the Soviet Union.

Production Goals

Targets set by businesses or organizations for the amount of goods or services to be produced within a specific time frame.