The Journal Entry a Company Uses to Record Partially Funded

question 37

Multiple Choice

The journal entry a company uses to record partially funded pension rights for its salaried employees at the end of the year is

• A) debit Salaries Expense; credit Cash
• B) debit Pension Expense; credit Unfunded Pension Liability
• C) debit Pension Expense; credit Unfunded Pension Liability and Cash
• D) debit Pension Expense; credit Cash

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Definitions:

Deming's 14 Points

A set of management principles developed by W. Edwards Deming, aimed at improving quality, productivity, and competitive position.

System Management

The administration of the multiple components of an organization's systems to ensure their efficient and effective operation and alignment with organizational objectives.

Quality Problems

Issues or defects in the production or delivery of a product or service that fail to meet established standards or customer expectations.

Deming

Pertains to W. Edwards Deming, a distinguished American engineer, statistician, professor, author, lecturer, and consultant in management, renowned for his contributions to the field of quality management.