The Holden Corporation Maintains a SIMPLE-IRA Retirement Plan for Its

question 3

Multiple Choice

The Holden Corporation maintains a SIMPLE-IRA retirement plan for its employees.The company has notified its employees that for 2016 it will fund the SIMPLE-IRA by matching an employee's contribution up to a maximum of 3% of the employee's salary.Harrison's salary in 2016 is $50,000 and he contributed $2,000 to the plan.What amount must Holden contribute on Harrison's behalf?

• A)$-0-
• B)$600
• C)$1,500
• D)$2,000
• E)$4,600

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Definitions:

Stakeholders

Individuals or groups that have an interest in any decision or activity of an organization, including employees, customers, suppliers, and shareholders.

Community Involvement

Engagement of a company or its employees in activities and projects that benefit the society or environment in their local community.

Voluntary Labor

Work undertaken by choice or without financial compensation; often in the context of volunteerism or unpaid internships.

Management Practices

The actions, strategies, and methods employed by managers to achieve organizational objectives and improve performance.