Characteristics of Profit-Sharing Plans Include All of the Following with the Exception

question 102

Multiple Choice

Characteristics of profit-sharing plans include all of the following with the exception of

• A)a predetermined formula is used to allocate employer contributions to individual employees and to establish benefit payments.
• B)forfeitures of benefits under the plan may be reallocated to the remaining participants.
• C)the company must make contributions to the plan if it has profits during the year.
• D)annual employer contributions are not required,but substantial,recurring contributions must be made to satisfy the requirement that the plan be permanent.

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Definitions:

Metering Valve

A valve in brake systems that controls the flow of brake fluid, ensuring proper balance and timing in brake application.

Proportioning Valve

A valve in a vehicle's braking system that regulates the pressure between the front and rear brakes, ensuring balanced braking.

Combination Valve

A valve used in vehicle brake systems that combines several functions, such as pressure modulation, in a single unit.

Kinetic Energy

The energy possessed by an object due to its motion, which depends on its mass and velocity.