Which of the Following Statements Is Correct

question 65

Multiple Choice

Which of the following statements is correct?

• A)Contributions to Keogh plans by self-employed taxpayers are generally limited to the lesser of 15 percent of their net earned income (before the Keogh deduction) or $45,000.
• B)The contribution limits for SEPs (Simplified Employee Pension) are the lesser of 20 percent of net self-employment income or $52,000 for a self-employed taxpayer.
• C)Employees may elect to make annual contributions to 401(k) plans up to the lesser of 15 percent of their net earned income (before the 401(k) deduction) or $45,000.
• D)The contribution limits for SEPs are a maximum of $17,500 ($23,000 for taxpayers 50 or older).

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Definitions:

Levels

Refers to the different values or states that an independent variable can take on in an experiment or study.

Main Effects

are the direct impacts of each independent variable on the dependent variable in an experimental study, disregarding interactions between variables.

Judgments of Responsibility

Evaluations or decisions made regarding the extent to which individuals or groups are accountable for actions or outcomes.

Automobile Accident

An unexpected and unplanned event involving motor vehicles, resulting in damage, injury, or death.