Which of Following Statements Is True of Outsourcing Benefits Functions

question 56

Multiple Choice

Which of following statements is true of outsourcing benefits functions? (Outsourcing the Benefits Function)

• A)Outsourcing agreements are on a monthly basis.
• B)Outsourcing refers to an employer transferring responsibility to a third-party provider to manage one or more benefits.
• C)Outsourcing some or all benefits administration is decreasing.
• D)Companies outsource roughly one-tenth of all their benefits functions.

Comprehend the characteristics and accounting treatment of provisions and contingent liabilities.

Identify the nature of current liabilities and their impact on liquidity.

Distinguish between secured and unsecured notes, and their reporting in financial statements.

Analyze the effects of not recording a liability on financial statements.

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Definitions:

Representativeness Heuristic

Estimating the likelihood of events in terms of how well they seem to represent, or match, particular prototypes; may lead us to ignore other relevant information.

Availability Heuristic

Estimating the likelihood of events based on their availability in memory; if instances come readily to mind (perhaps because of their vividness), we presume such events are common.

Insight

A sudden realization of a problem’s solution; contrasts with strategy-based solutions.

Engineering Problem

A challenge or issue within the field of engineering that requires a solution, often involving mathematical, scientific, and practical knowledge.