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Question 1: Andrew wants to make a SIMPLE retirement plan available to his employees, but he does not understand the eligibility requirements. Which of the following requirements must be met by Andrew's employees to participate in the SIMPLE plan?
Option a) Have earned income at least $5,000 every year for the past 3 years
Option b) Have earned at least $5,000 for at least 3 out of the past 5 years
Option c) Have earned at least $5,000 for the past 2 years and be expected to earn $5,000 in the current year
Option d) Have earned income at least $5,000 last year
Financial Statement Analysis and Preparation
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