All of the Following Are Requirements of the Employee Retirement

question 86

Multiple Choice

All of the following are requirements of the Employee Retirement Income Security Act (ERISA) EXCEPT

• A) employers may offer retirement plans to certain classes of employees as a tool to aid retention of top-performing employees.
• B) pension plans must meet minimum funding requirements.
• C) employers must pay termination insurance to ensure employee pensions will be there even if the company goes out of business.
• D) accrued benefits in the pension plan must be given to employees when they retire or leave.

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Definitions:

Net Sales

Income generated from sales once returns, allowances for damaged or missing items, and discounts have been subtracted.

Accounts Receivable

Represents the money owed to a business by its customers for goods or services delivered but not yet paid for.

Accounts Receivable

Accounts Receivable represents the money owed to a company by its customers for goods or services delivered but not yet paid for.

Sales Revenue

The income that a company receives from its normal business activities, usually from the sale of goods and services to customers.