Use the Following Information for Questions

question 52

Multiple Choice

Use the following information for questions
On January 1, 2016, Newlin Co.has the following balances:
Defined benefit obligation $2,100,000
Fair value of plan assets 1,800,000
The discount rate is 10%.Other data related to the pension plan for 2016 are:
-The balance of the defined benefit obligation at December 31, 2016 is

• A)$2,433,000.
• B)$2,385,000.
• C)$2,355,000.
• D)$2,337,000.

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Definitions:

College Graduates

Individuals who have completed a degree program at a college or university.

Property Income

Income from property ownership, including rentals, dividends from investments in real estate, and interest on property savings.

Middle Class

The Middle Class refers to the social group between the upper and working classes, including professionals, managers, and skilled workers, characterized by moderate to above-average income levels.

Poverty Rate

The percentage of the population living below the national poverty line, indicating the level of economic hardship.