Pleasant Company Has Established a Pension Plan for Its Employees

question 125

Multiple Choice

Pleasant Company has established a pension plan for its employees that operates as follows: Each year, Pleasant Company places a fixed dollar amount in a pension fund for each employee. The funds are then invested. Upon retirement, each employee is entitled to the cash value of the funds that have been invested in his/her name. This arrangement is an example of which of the following?

• A) Contingent program.
• B) Deferred timing program.
• C) Defined benefit program.
• D) Defined contribution program.

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