Which of the Following Is a Hybrid of Defined Benefit

question 7

Multiple Choice

Which of the following is a hybrid of defined benefit and defined contribution plans?

• A)401(k) plan
• B)Employee stock ownership plan
• C)Cash balance plan
• D)Profit-sharing plan

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Definitions:

Cash Account

An account that records the amount of cash transactions over a period, including receipts, payments, and cash on hand.

Direct Labor Costs

Expenses directly associated with the labor used in the production of goods or services.

Work in Process Inventory

Goods that are in the process of being manufactured but are not yet complete.

Materials Quantity Variance

The contrast between the quantity of materials actually used and the quantity that was projected, with this difference being multiplied by the standard price per unit.