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Question: Which of the following allocations would be permitted in a qualified profit sharing/401(k) plan?

i. investment earnings allocated in proportion to relative account balances.

ii. investment earnings allocated in proportion to relative compensation.

iii. employer contributions to the profit sharing plan allocated in proportion to relative compensation.

iv. employer contributions to the profit sharing plan allocated in proportion to relative account balances.

a) i and ii only

b) i and iii only

c) ii and iii only

d) ii and iv only

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92572493

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