A Defined Contribution Scheme

question 64

Multiple Choice

A defined contribution scheme:

• A) moves any actuarial and investment risk from the employer to the employee.
• B) requires the contribution made by an employer to be recognised as an expense.
• C) will only create a liability for the employer to the extent that any agreed contribution remains unpaid at the end of the financial year.
• D) All of the given answers are correct.

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Definitions:

Recordkeeping

The maintenance of records or documents that record significant events, transactions, or findings for future reference.

Tokens

Objects or symbols representing a certain value, utilized as a means of exchange or for signaling identity or membership.

Clay Tablets

Ancient writing materials made from clay, used primarily in Mesopotamia, for recording texts, transactions, or events.

Mesopotamia

An ancient region located in the eastern Mediterranean, broadly corresponding to present-day Iraq, northeastern Syria, southeastern Turkey, and parts of western Iran, known as the cradle of civilization.