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S_A_V [24]
3 years ago
14

Vance has a vested account balance in his employer-sponsored qualified profit-sharing plan of $40,000. He has two years of servi

ce with his employer and the plan follows the least generous graduated vesting schedule permitted for a profit-sharing plan under PPA 2006. If Vance has an outstanding loan balance within the prior 12 months of $15,000, what is the maximum loan Vance could take from this qualified plan, assuming the plan permitted loans
Business
1 answer:
Maurinko [17]3 years ago
7 0

Answer: $5,000

Explanation:

Per the requirements of qualified plans that permit loans, the maximum amount that an individual can withdraw is whichever is lesser between $50,000 and 50% of their Vested Account Balance.

Vance in this scenario has a vested account balance of $40,000.

50% of that would be $20,000.

That means that he can be loaned $20,000. However, he already has an outstanding loan balance that must be accounted for of 15,000.

Subtracting those figures we have,

= 20,000 - 15,000

= $5,000

The maximum loan that Vance can take from the qualified plan is $5,000

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Answer: (A) Antitrust

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It is basically refers to the competitive law which is developed by the united state government for protecting the consumers from the various types of business practices.

It mainly ensure that the fairness in the competition in the market. Antitrust concerns are mainly focus on the institutional acquisitions and the alliances.

Therefore, Option (A) is correct.

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4 0
3 years ago
Read 2 more answers
When a multinational corporation opens a new factory in another country, what economic responsibilities must it follow? Are ther
ZanzabumX [31]

The responsibilities that must be considered when a multinational opens a new factory in another country are legal and cultural responsibilities.

<h3 /><h3>What are the obligations of a multinational?</h3>

A corporation with units in different countries must follow the legislation in force in the place, adapting its processes and services to essential requirements, such as payment of taxes and licenses to operate in the country.

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