A Type of Pension Plan That Contains a Formula for Determining

question 43

Multiple Choice

A type of pension plan that contains a formula for determining retirement benefits so that the actual benefits to be received are defined ahead of time is called a

• A)money purchase pension plan.
• B)defined contribution pension plan.
• C)defined benefit pension plan.
• D)deferred profit-sharing plan.
• E)retirement plan.

---

Definitions:

Imports

Goods and services purchased from other countries to be sold or used domestically.

Exports

Exports refer to goods or services produced in one country and sold to buyers in other countries, contributing to the exporting country's economy.

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.