Which of the Following Statements Concerning Defined-Benefit Pension Plans Is

question 23

Multiple Choice

Which of the following statements concerning defined-benefit pension plans is (are) true?
I.The contribution rate by the employer varies depending on the amount needed to fund the desired benefit.
II.The retirement benefit is not known in advance.

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

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Definitions:

Business

The coordinated actions and initiatives of persons aimed at the generation and vending of goods and services for financial gain.

Revised Uniform Partnership Act

An updated version of a law guiding the operation of partnerships in the United States, focusing on the management, financial aspects, and dissolution of partnerships.

Loyalty

A strong feeling of support or allegiance towards someone or something.

Personally Profit

Gaining financial or material benefit for oneself from a situation or activity, often at the expense of ethics or other obligations.