Costs Related to a New Pension Plan That Are Necessary

question 46

Multiple Choice

Costs related to a new pension plan that are necessary to "catch up" for services rendered prior to the inception of the pension plan are classified as:

• A)actuarial losses.
• B)past service costs.
• C)service costs.
• D)retroactive deferred charge.
• E)transition costs.

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Definitions:

Laissez Faire

An economic philosophy advocating minimal governmental intervention in the market and the private sector.

Capitalism

An economic system characterized by private or corporate ownership of goods and services, intended for profit.

Justice Theorist

An individual who studies or develops concepts related to justice, focusing on its application in society, law, or morality.

Society's Benefits

The advantages or positive outcomes that accrue to the general public or community from certain actions, policies, or programs.