Examlex

Solved

​To Share a Presentation Through Office Mix

question 15

Multiple Choice

​To share a presentation through Office Mix,


Definitions:

Other Postretirement Benefits

Benefits, other than pension distributions, that an employee is entitled to receive after retirement, such as life insurance and medical benefits.

Cash Basis of Accounting

An accounting method where revenues and expenses are recognized only when cash is received or paid.

Accrual Basis of Accounting

Accrual basis of accounting is a method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.

Defined Benefit Pension Plan

A type of pension plan where the benefits that a retiree will receive are calculated based on factors such as salary history and duration of employment.

Related Questions