Which of the Following Statements Is True of the History

question 59

Multiple Choice

Which of the following statements is true of the history of lawmaking?

• A)American colonists borrowed their laws from the English system.
• B)Americans did not change or adapt common law.
• C)England created common law based on the U.S.constitution.
• D)Early societies relied on written social norms.

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Definitions:

Projected Benefit Obligation

A liability amount in a company's pension plan, estimating the total benefits to be paid to employees in the future.

Plan Assets

Investments and other assets held by a pension fund to be used for the payment of retirement benefits to participants.

Postretirement Benefit Expense

The cost recognized by companies related to the various benefits provided to employees after retirement.

Funded Postretirement Benefit Plans

Retirement plans for which assets have been set aside in advance to pay future benefits owed to employees, securing the promised benefits.