Which of the Following Statements Regarding Keogh Plans Is False

question 2

Multiple Choice

Which of the following statements regarding Keogh plans is false?

• A) Keogh plans provide a tax-deferred retirement savings option for self-employed individuals.
• B) Keogh plans must be administered by an independent trustee.
• C) Keogh plans can be either defined-benefit or defined-contribution plans.
• D) A self-employed person with a Keogh plan is not required to provide retirement benefits to his or her employees through the plan.

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Definitions:

Cognitive Impairment

A reduction in cognitive function compared to a person's previous level of performance, potentially affecting memory, decision-making, and attention.

Theory Of Mind

Awareness and understanding of mental processes.

Social Reciprocity

The mutual exchange of social behaviors, such as sharing and cooperation, between individuals.

Social Cognition

The ability to understand that others have mental states and to gauge their feelings and actions.