Under a Defined Benefit Pension Plan

question 51

Multiple Choice

Under a defined benefit pension plan,

• A)actuarial computations are unnecessary.
• B)accounting for annual pension expense is simple.
• C)retirement payments are based on the amount accumulated in the pension fund.
• D)the employer guarantees the employees certain benefits upon retirement.

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Definitions:

Liberal Arts

An educational discipline that includes the humanities, social sciences, and natural sciences, designed to provide a broad knowledge and cultivate critical thinking and analytical skills.

Vocational Training

An education program that prepares individuals for specific trades, crafts, or careers at various levels from a trade, a craft, technician, or a professional position in engineering, accountancy, nursing, medicine, architecture, pharmacy, or law.

White Philanthropists

Individuals from white communities who donate their resources or time to support charitable causes, often with a focus on addressing social inequalities.

Theodore Roosevelt

The 26th President of the United States, known for his progressive policies and leadership of the Rough Riders in the Spanish-American War.