Jana Has $225,000 of Earned Income in 2018

question 31

Multiple Choice

Jana has $225,000 of earned income in 2018. Calculate the amount she can contribute to a SEP.

• A) $22,500
• B) $24,500
• C) $55,000
• D) $56,250
• E) None of the above

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Definitions:

Contingency Approach

A management theory that suggests the most appropriate style of management is dependent on the context of the situation.

Universal Process Approach

A management theory suggesting that certain principles of management apply to all organizations, advocating the use of standardized procedures and practices.

Theory X

A management concept that assumes employees are inherently lazy and will avoid work if they can, suggesting the need for strict supervision and control.

Self-direction

The ability to set a course or take action independently, often related to personal or professional goal setting and achievement.