O'Brien Began a Defined Benefit Pension Plan on January 1

question 50

Multiple Choice

O'Brien began a defined benefit pension plan on January 1, 2010.During 2010, the service cost was $450, 000.O'Brien contributed $450, 000 to the pension plan for 2010.The actuary said the projected benefit obligation at December 31, 2010 was $450, 000.As of December 31, 2010, what statements can O'Brien make about the pension plan?

• A)I
• B)II
• C)both I and II
• D)neither I nor II

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Definitions:

Action Orientation

A personality trait or behavior characterized by proactive decision-making and initiative-taking in facing tasks or challenges.

Coordination

The act of organizing and aligning different elements or activities of an organization to ensure they work together effectively towards a common goal.

One-time Activities

One-time activities refer to tasks or events that occur only once and are not repeated, often used in project planning and management.

Projects

Initiatives or plans undertaken to achieve a specific goal, often involving a series of tasks or operations.