Which of the Following Is Not a Self-Employed Retirement Account

question 9

Multiple Choice

Which of the following is not a self-employed retirement account?

• A) SEP IRA
• B) SEM 403(c)
• C) Individual 401(k)
• D) None of these. All of these are self-employed retirement accounts.

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Definitions:

Monetary Items

Units of currency held and assets and liabilities to be received or paid in a fixed or determinable amount of currency.

Currency Units

Units of account used as a medium of exchange, represented in forms such as dollars, euros, yen, etc.

Liabilities

Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.

AASB 121

The Australian Accounting Standards Board document that refers to the effects of changes in foreign exchange rates on financial reporting.