Multiple Choice
Which of the following is true regarding the percent test, ratio test, and average benefits test?
A) A plan must satisfy one or more of these to be qualified
B) A plan must satisfy two tests to be qualified
C) A plan must satisfy three tests to be qualified
D) Even when it does not pass any test, a plan becomes qualified if the IRS allows it
E) None of the above statements are true
Correct Answer:
Verified
Correct Answer:
Verified
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