Because of an Alarming Drop in the Earnings of Microminds

question 2

Multiple Choice

Because of an alarming drop in the earnings of Microminds Ltd.,Roger,the principal contract negotiator and president of the software development company,called a meeting to discuss productivity and customer satisfaction.At the meeting were Michael,troubleshooter,who helped customers over the phone who needed guidance in using the company's software; Ralph,receptionist and purchaser of the office supplies for the company; Keith and Jason,salespeople hired on a commission basis-i.e.,not as employees but as independent contractors; Mr.Toman,purchasing agent for the Vancouver School Board,an important customer; and Mr.Rice,purchasing agent for Matol Toys Ltd.,also a customer.Which of these is an agent?

• A) all of them
• B) all of them except Keith and Jason
• C) all of them except Michael
• D) Roger, Toman, and Rice only
• E) only Roger

Understand challenges facing national pension plans and strategies for cost containment in benefits programs.

Understand the administrative and strategic considerations in designing and implementing employee benefits programs.

Understand the various types of pension and benefit plans and their characteristics.

Recognize the legal requirements for pensions and benefits within Canada.

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Definitions:

Reporting Method

Refers to the various methodologies and guidelines used for preparing and presenting financial statements.

Restricted Contribution

A donation given to a nonprofit organization with specific conditions attached as to how it can be spent.

Net Asset Balance

The total assets minus total liabilities of a company, showing the net book value of the company's equity.

Restricted Fund Method

An accounting method used by not-for-profit organizations to distinguish between resources that are restricted by donor-imposed stipulations and those that are not.