If Your Pension Fund Contained a Provision That Allowed Employees

question 120

Multiple Choice

If your pension fund contained a provision that allowed employees who were leaving the company to retain and transfer any pension benefits earned to another pension plan,it would be said to have

• A)transference.
• B)releasability.
• C)transportance.
• D)portability.
• E)none of the above.

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Definitions:

Net Income

The amount of profit remaining after all operating expenses, taxes, and interest have been deducted from total revenue.

Adjusted Trial Balance

An Adjusted Trial Balance is a listing of all company accounts that will appear in the financial statements after year-end adjustments are made.

Financial Statement Column(s)

These are the columns in financial statements such as balance sheets and income statements, organizing financial information into categories like assets, liabilities, revenues, and expenses.

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue.