Winslow Corporation Has Many Long-Term Employees

question 44

Multiple Choice

Winslow Corporation has many long-term employees.The company has never had a pension plan.Recently,a new management team was hired.The new president said he would like to start a pension plan through which he could reward the long-term service provided by many employees.Which of the following types of plans should Winslow Corporation adopt?

• A)section 403(b)plan
• B)section 401(k)plan
• C)defined contribution plan
• D)defined benefit plan

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Definitions:

Sedimentary Rocks

Rocks formed by the accumulation and consolidation of sediment, which can include minerals and organic matter, typically found in layered deposits.

Fractured Granitic

Describes granitic rock that has been broken or cracked, often by natural processes such as tectonic movement or weathering.

Metamorphosed Rocks

Rocks that have undergone a physical or chemical change due to extreme heat and pressure, altering their original mineralogy and texture.

Mineral Deposit

Dense gatherings of minerals from which materials of economic value can be obtained.