Match Each Statement with the Correct Term Below

question 58

Multiple Choice

Match each statement with the correct term below.
-Money purchase plan

• A)A separate, parallel tax system designed to ensure a taxpayer pays some tax.
• B)A compensation tool that is based on potential price increases of the company's stock.
• C)An individual trust account maintained for the exclusive benefit of an individual or beneficiary.
• D)A type of defined contribution pension plan in which the company and the employee contribute a fixed percentage of the employee's salary to the plan.
• E)A pension plan in which the benefits are based on the number of years an employee has worked for a company and on the employee's annual salary.
• F)A pension plan whose benefits are determined by the amount of contributions the employee and the company contribute to the plan and the earnings of the plan.

---

Definitions:

Traveler's Checks

A form of preprinted, fixed-amount cheques used by travelers to safely carry money; they can be exchanged for local currency.

One-Write System

A type of accounting system that allows for data to be entered into ledgers and journals at the same time through the use of carbon paper or a similar method.

Accounting Forms

Documents used for recording financial transactions and maintaining accounting records.

Payee

A person who receives a payment.