Which statement summarizes section 401 (k) of the Internal Revenue
Code?
A.) Employers must match the amount of an employee's contribution to a retirement fund up to a certain percentage of the employee's
contribution.
B.) Employees are not taxed on interest earned on compensation that
has been placed in specially designated retirement accounts.
C.) Employees are not taxed on income they choose to receive as
deferred compensation rather than direct compensation,
D.) Employers must establish a program that enables employees to
contribute annually to a retirement account.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which statement summarizes section 401 (k) of the Internal Revenue Code? A.) Employers must match the amount of an employee's contribution ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A monopolist Select one: a. can raise its price without losing any sales because it is the only supplier in the market. b. can earn a greater than normal rate of return in the long run.
Answers (1)
2. June Cunningham deposited $54,200 in the bank on January 1, 2006. On January 2, 2016, this deposit has accumulated to $106,611. Interest is compounded annually on the account. What rate of interest did June earn on the deposit
Answers (1)
Which team work charateristic motivates your team members better to perform better
Answers (1)
In a market economy, supply and demand determine a. both the quantity of each good produced and the price at which it is sold. b. the quantity of each good produced but not the price at which it is sold. c.
Answers (1)
South central bank pays 2.5 percent interest, compounded annually, on its savings accounts. northern bank pays 2.5 percent simple interest on its savings accounts.
Answers (1)
New Questions in Business
A firm realizes that the market price has fallen below its average total costs, and it is now earning a loss. what is the best action for the firm to take in the short run?
Answers (1)
Fixed expenses: a. includes labor, raw materials, and commissions. b. can be estimated by taking into consideration the production. c. are incurred regardless of sales volume. d. must be linked to strategy in the business plan
Answers (1)
4) Which of the following is least likely to be your primary health care provider? a. an allergist b. an internist c. an obstetrician-gynecologist
Answers (1)
T/F A macroeconomist would be concerned with the following statement. "Two major hurricanes caused significant damage to the eastern seaboard and led to a fall in GDP and a rise in unemployment in the U. S. economy."
Answers (1)
At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end ofthe year, actual bad debts total $15,000. Record the write-off to uncollectible accounts.
Answers (1)