Since the Late 1980s,new Rules Have Improved the Public Pension

question 16

Multiple Choice

Since the late 1980s,new rules have improved the public pension plan system.These include which of the following?

• A) Improvements in the OAS have led to decreased poverty rates for single older people.
• B) The CPP allowed only women to deduct the years that they spend in child rearing from their pensionable years.
• C) All widows and widowers with low incomes will always get the ALW.
• D) The federal and provincial governments agreed that all occupational plans remove survivor benefits.

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Definitions:

Sales Return

goods returned by the customers to the seller after the sale, reducing the gross sales figure.

Gross Profit

The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Net Sales

The revenue a company earns from sales after subtracting returns, allowances for damaged or missing products, and discounts.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that is expected to be uncollectible.