Which Is an Example of an Unfunded Retirement Plan

question 15

Multiple Choice

Which is an example of an unfunded retirement plan?

• A) a company-sponsored pension plan
• B) a retirement portfolio with an investment bank
• C) Social Security
• D) an individual retirement account

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Definitions:

Financial Statements

These are formal records that outline the financial activities and condition of a business, entity, or individual.

Net Income

The final profit figure for a company, calculated by subtracting all expenditures and taxes from revenues.

Total Liabilities

The combined debts and obligations that a company owes to outside parties at any given time.

Accrued Expenses

Expenses that have been incurred but not yet paid for, often recognized in accounting through an adjusting entry.