Which of the following statements about plan loans is true? Group of answer choices...
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Accounting
Which of the following statements about plan loans is true?
Group of answer choices
Defaulting on a plan loan constitutes an immediate withdrawal and will incur a tax liability in the current tax year.
Loans are forgiven and reduce the ultimate plan balance if an employee is terminated.
The employer can choose whatever interest rate seems fair to them.
Ten year amortization schedules are required on all plan loans.
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