The Time It Takes to Complete a Certain Job Varies

question 247

Multiple Choice

The time it takes to complete a certain job varies inversely to the number of people working on that job. If it takes 28 hours for 11 carpenters to frame a house, then how long will it take 49 carpenters to do the same job?

• A) 40 hr
• B) 49 hr
• C) 6.3 hr
• D) 19.3 hr

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Definitions:

Expected Pension Benefits

Expected pension benefits represent the future payments an employee has earned under a pension plan, based on factors like years of service and salary history.

Projected Benefit Obligation

An estimate of the total amount that an employer anticipates to pay for employee benefits in the future.

Accumulated Benefit Obligation

The present value of benefits earned by employees in a defined benefit plan, to be provided at some time in the future based on their service to date.

Pension Liability

The present value of the future pension payments that a company is obligated to pay to its retired employees, representing a financial liability on the company’s balance sheet.