Under the "Checks and Balances" System of the Constitution of 1787,federal

question 31

Multiple Choice

Under the "checks and balances" system of the Constitution of 1787,federal judges

• A) were appointed by Congress.
• B) served for life.
• C) were elected by state legislatures.
• D) could not reverse state court rulings.
• E) served at the pleasure of the executive.

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Definitions:

Accumulated Benefit Obligation

The present value of future retirement benefits earned up to a certain point in time, under a defined benefit pension plan.

Prior Service Cost

Costs recognized when a pension plan initiates or changes, relating to services provided by employees in prior periods.

Net Periodic Pension Expense

The total cost recognized in a particular period related to pension plans, reflecting service cost, interest cost, expected return on plan assets, and other factors.

Unrecognized Past Service Cost

Costs associated with pension plan benefits earned by employees in prior periods not yet reflected in financial statements.