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Match the Terms or Phrases with Their Meanings

question 4

Multiple Choice

Match the terms or phrases with their meanings:
i.Sort
II.Ascending
III.Descending
IV.Query
v.Custom List


Definitions:

Interest Cost

The total amount of interest that will be incurred over the lifetime of a debt.

Service Cost

The actuarial present value of benefits attributed by the pension plan formula to employee service during the period.

Pension Plan

A pension plan is a retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit.

Overfunded

A situation where a pension plan's assets exceed its liabilities, indicating that there are more than enough funds to meet future obligations.

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