Social Plans Financed in Whole or in Part by Taxation

question 85

Multiple Choice

Social plans financed in whole or in part by taxation or other mandatory investments by their present or future recipients are described as:

• A)public trusts
• B)enterprise funds
• C)revenue sharing
• D)contributory programs
• E)means-tested program

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Definitions:

Accountant-Client Privilege

A legal privilege that keeps confidential communications between an accountant and their client protected from disclosure without the client's consent.

Testify

To give a formal statement of fact or evidence in a court of law, or in a legislative or administrative proceeding.

Disclaimer

A declaration intended to exclude legal responsibility and avoid the possibility of civil litigation for specific actions or neglect.

GAAP

Generally Accepted Accounting Principles, which are a collection of commonly-followed accounting rules and standards for financial reporting.