Which of the Following Statements Concerning Defined-Benefit Pension Plans Is

question 39

Multiple Choice

Which of the following statements concerning defined-benefit pension plans is (are) true?
I.The contribution rate by the employer varies from year to year.
II. The retirement benefit is not known in advance.

• A) I only
• B) II only
• C) both I and II
• D) neither I nor II

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Definitions:

Bank Reconciliation

The method of aligning the figures in a company's bookkeeping records for a cash account with the equivalent data on a bank statement.

NSF Check

Non-Sufficient Funds Check, a bank check that cannot be honored because the account on which it is drawn does not have enough funds.

Outstanding Checks

Checks that have been written and recorded in the payer's financial records but not yet cleared or cashed by the recipient.

Cash Flow

The net amount of cash and cash-equivalents being transferred into and out of a business.