Which of the Following Is True About the Canada and Quebec

question 48

Multiple Choice

Which of the following is true about the Canada and Quebec Pension Plans?

• A) the programs are identical
• B) CPP benefits are taxable, but QPP benefits are not
• C) the Canada Pension Plan can only be changed with the approval of two-thirds of the provinces, excluding Quebec
• D) the C/QPP program includes reciprocal agreements with other countries
• E) the plans are financed in the same way

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Definitions:

Standard Hours

The set amount of time expected for a task or job to be completed, often used in planning and efficiency analysis.

Units Produced

The total number of finished items or products created by a production process or manufacturing operation.

Variable Factory Overhead Controllable Variance

The difference between the actual variable overhead costs and the budgeted costs that management could control.

Standard Factory Overhead Rate

A rate used to allocate factory overhead costs to products based on expected factory activity.