Listed Below Are Five Terms Followed by a List of Phrases

question 203

Multiple Choice

Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the most correct term.
-Vesting requirements

• A)Included in the calculation of pension expense.
• B)Retirement benefits specified by formula.
• C)Reduce(s) both the PBO and plan assets.
• D)Protection for employee pension rights.
• E)Reported as a shareholders' equity account.

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Definitions:

Disputes

Conflicts or disagreements that arise between parties which may require negotiation or legal action to resolve.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputing parties to reach a mutually satisfactory agreement.

Lawsuit

A legal action taken by one party against another in a court of law, typically to resolve a dispute or claim.

Summary Jury Trial

A shortened version of a trial conducted in less than a day before a jury. The jury’s verdict is advisory only.