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CHAPTER 19 DEFERRED COMPENSATION Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Learning Objective, Level of Difficulty, Estimated Time to Completion, and the AACSBs and AICPAs Core Competencie s for each test item are located within the item itself. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Higher compensation and performance Unchanged 1 2 Profit sharing plan Unchanged 2 3 Qualified pension plan Unchanged 3 4 Deferred compensation and ISOs Unchanged 4 5 Group term life insurance and deferred Unchanged 5 compensation 6 Defined benefit plan and forfeitures Unchanged 6 7 Defined contribution plan Unchanged 7 8 Profit sharing plan: separate accounts Unchanged 8 9 Participation requirement of qualified plan Unchanged 9 10 Cliff vesting Unchanged 10 11 Minimum required distribution Unchanged 11 12 Maximum benefits payable Modified 12 13 Annual compensation limit Modified 13 14 Profit sharing plan: employer deduction Modified 14 15 10% excise tax on nondeductible contributions Unchanged 15 16 Maximum deduction to stock bonus plan Unchanged 16 17 Section 401(k) plan: tax deferral of earnings Unchanged 17 18 Section 401(k) plan: maximum contribution Modified 18 19 Section 401(k) plan: early distributions Unchanged 19 20 SEP: limit on employer contributions and Modified 20 employee deferrals 21 Traditional IRA: excess contributions and age Unchanged 21 22 Traditional IRA: basis Unchanged 22 23 Traditional IRA phaseout: active participant Modified 23 24 Nondeductible traditional IRA contributions Unchanged 24 25 Roth IRA: maximum contribution Unchanged 25 26 Roth IRA: contribution deadline Unchanged 26 19-1 19-2 2010 Annual Edition/Test Bank Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 27 Roth IRA: contributions Unchanged 27 28 Roth IRA: distributions Unchanged 28 29 Roth IRA: distributions Unchanged 29 30 Coverdell Education Savings Account: contributions Unchanged 30 31 Distribution of CESA New 32 Ceiling for SEP plan New 33 Spousal IRA New 34 Excess contributions to traditional IRA New 35 Basis in a traditional IRA New 36 Limit on total contribution to IRAs New 37 Roll over of traditional IRA into Roth New 38 NQDC forfeitability New 39 $1 million compensation limit New 40 ISO: grant date and vesting date Unchanged 40 41 Taxation of ISOs Unchanged 41 42 ISO: disadvantage Unchanged 42 MULTIPLE CHOICE 1 Qualified plans Unchanged 1 2 Deferred compensation Unchanged 2 3 Fringe benefits Unchanged 3 4 Defined contribution plan Unchanged 4 5 Profit sharing plan Modified 5 6 Highly compensated employee Modified 6 7 Graded vesting rule Unchanged 7 8 Cliff vesting rule Unchanged 8 9 Graded vesting rule Unchanged 9 10 Minimum distribution Unchanged 10 11 Distributions: early Unchanged... View Full Document

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