A Retirement Program That Pays Retiring Employees a Fixed Retirement

question 80

True/False

A retirement program that pays retiring employees a fixed retirement income based on average earning over a period of time is a defined contribution plan.

---

Definitions:

Raw Materials

Basic substances in their natural, modified, or semi-processed states used as inputs for production.

Distribution

The process of making goods or services available to consumers through various channels.

Downstream Activity

Processes in the supply chain that occur after the production phase, such as distribution, marketing, and sales to the end consumer.

SCM

Supply Chain Management, the handling of the entire production flow of a good or service — from the raw components all the way to delivering the final product to the consumer.