What Is the Corridor Limit for Fiscal 2014 A)$50,000
B)$300,000
C)$350,000
D)$500,000

question 55

Multiple Choice

What is the corridor limit for fiscal 2014? $$\begin{array} { | l | r | r | } \hline \text { Balance at Dec } 31 & \text { Fiscal 2013 } & \text { Fiscal 2014 } \\\hline \text { Pension assets } & 5,000,000 & 3,000,000 \\\hline \text { Pension obligation } & 3,200,000 & 3,500,000 \\\hline \text { Unamortized actuarial gains } & 210,000 & 300,000 \\\hline\end{array}$$

• A)$50,000
• B)$300,000
• C)$350,000
• D)$500,000

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Definitions:

Bankruptcy Judge

A judicial officer who presides over court proceedings related to bankruptcy cases, including the resolution of claims and distribution of assets.

Bankruptcy

A judicial mechanism enabling individuals or entities incapable of fulfilling their monetary commitments to obtain exemption from part or entire of their debts.

Business Owner

An individual or entity that legally possesses a company, is responsible for its operations, and enjoys the benefits of its success.

Penniless

Refers to having no money; being very poor.