All of the Following Are Examples of Defined Contribution Plans

question 4

Multiple Choice

All of the following are examples of defined contribution plans except

• A) Defined-benefit plan.
• B) Money-purchase plan.
• C) Profit-sharing plan.
• D) Salary-reduction plan.
• E) Stock bonus plan.

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Definitions:

Raw Materials Account

An accounting record that tracks the cost of raw materials purchased by a company intended for use in production.

November

The eleventh month of the year in the Gregorian calendar, often associated with fall in the northern hemisphere and spring in the southern hemisphere.

Raw Materials

The basic, unprocessed inputs required for the production process in manufacturing goods.

Direct Labor-Hours

A measure of the amount of time spent by workers directly involved in the manufacturing process, used in calculating labor costs and efficiency.