A Company Has a Defined Benefit Pension Asset of $1,300,000

question 2

Multiple Choice

A company has a defined benefit pension asset of $1,300,000 at the beginning of the year. The company contributes $4,000,000 to the pension during the year and records a pension expense of $6,200,000. The closing balance of the defined benefit pension plan at year-end is therefore a:

• A)$900,000 asset
• B)$900,000 liability
• C)$5,300,000 asset
• D)$3,500,000 asset

---

Definitions:

Cultural Insensitivity

Cultural insensitivity is the lack of awareness or regard for the differences and values of other cultures, often leading to misunderstanding or offense.

Cultural Definitions

The meanings, concepts, or understandings assigned to words, objects, practices, or ideas within a specific culture.

Clients of Color

Refers to individuals from non-white racial or ethnic backgrounds who seek services such as counseling, healthcare, or legal assistance.

Ethnically Diverse

Describing a population that includes people from multiple ethnic backgrounds and cultures.