Vested Benefits

question 77

Multiple Choice

Vested benefits

• A)usually require a certain minimum number of years of service.
• B)are those that the employee is entitled to receive even if fired.
• C)are not contingent upon additional service under the plan.
• D)are defined by all of these answer choices.

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Definitions:

Other Comprehensive Income

Specified items that are reported separately from net income, including foreign currency items, pension liability adjustments, and unrealized gains and losses on investments.

Adjustment

A process of making entries to account records to correct or update the financial information.

Certificates of Deposit

These are time-bound savings certificates offered by banks with a fixed maturity date and specified fixed interest rate.

Balance Sheet

A financial statement that presents a company's assets, liabilities, and equity at a specific point in time.