JKL Company Just Converted Its Traditional Defined-Benefit Plan to Another

question 1

Multiple Choice

JKL Company just converted its traditional defined-benefit plan to another type of plan.Under the plan,benefits are defined in terms of a hypothetical account balance,with retirement benefits dependent upon the value of the participant's account at retirement.Each year,employees receive an interest rate credit and a pay credit which is a specified percentage of compensation.This type of plan is called a

• A)section 401(k)plan.
• B)deposit-administration plan.
• C)cash-balance plan.
• D)trust fund plan.

Identify and describe the role of technology in creating intelligent work and learning environments.

Recognize the application and benefits of AI and IoT technologies in various scenarios.

Comprehend the significance of technological advancements, such as the microprocessor, in computing history.

Understand the role of technology in protecting data and enhancing cybersecurity.

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Definitions:

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, often referred to as the "I-knew-it-all-along" effect.

Just-World Phenomenon

The cognitive bias that a person's actions are inherently inclined to bring morally fair and fitting consequences to that individual, to the end of all noble actions are rewarded and evil actions are punished.

Scapegoating

The practice of singling out any party for unmerited negative treatment or blame.

Other-Race Effect

The tendency to more easily recognize faces of one's own race, compared to faces of other races, often attributed to social and cognitive factors.