Which of the Following Describes a Defined Contribution Plan

question 56

Multiple Choice

Which of the following describes a defined contribution plan?

• A)Provides guaranteed income on retirement to plan participants.
• B)Employers and employees generally may contribute to the plan.
• C)Generally set up to defer income for executives and highly compensated employees but not other employees.
• D)Retirement account set up to provide an individual a fixed amount of income on retirement.

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Definitions:

Sub-Contracting Levels

The degree to which a primary contractor delegates or outsources portions of a project or job to secondary contractors.

Intermediate-Range Plans

Planning activities that cover a time frame from 3 months to 1 year, focusing on allocations of resources and objectives in the medium term.

Perishable Inventory

Items in inventory that have a limited shelf life and therefore require more dynamic and sensitive handling, management, and forecasting strategies to minimize losses due to spoilage.

Disaggregation

The process of breaking down a complex system or data set into smaller, more manageable parts.