In General,which of the Following Statements Regarding Self-Employed Retirement Accounts

question 30

Multiple Choice

In general,which of the following statements regarding self-employed retirement accounts is true?

• A)SEP IRAs have higher contribution limits than individual 401(k) s if the contributing taxpayer is at least 50 years of age at year end.
• B)SEP IRAs have higher contribution limits than individual 401(k) s no matter the age of the contributing taxpayer.
• C)Individual 401(k) s have higher contribution limits than SEP IRAs.
• D)None of these.Both SEP IRAs and individual 401(k) s have exactly the same annual contribution limits.See discussion in the text.

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Definitions:

Aneurysm

Dilated portion of an artery.

Artery Wall

The multi-layered structure of arteries consisting of the tunica intima, tunica media, and tunica externa, crucial for maintaining blood pressure and flow.

Veins Overstretching

A condition where veins are stretched beyond their normal capacity, often leading to varicose veins.

Posterior Cerebral

Pertaining to the back part of the cerebral cortex, which is involved in processing visual information.