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Explain the Essential Features of a Defined Benefit,externally Managed,non-Contributory Superannuation

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Essay

Explain the essential features of a defined benefit,externally managed,non-contributory superannuation plan whose benefits are not vested.


Definitions:

Normal Level

A baseline or standard level of activity, production, or operation, considered typical or expected under normal circumstances.

Standard Production Time

The amount of time that should reasonably be expected to manufacture a product under normal conditions.

Fringe Benefits

Additional benefits supplementing an employee's salary, such as health insurance, paid vacation, or a company car.

Freight Costs

Expenses incurred by a company to transport goods from one place to another.

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