Listed Below Are Five Terms Followed by a List of Phrases

question 243

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.
-Projected benefit obligation

• A)Future compensation levels estimated.
• B)Not contingent on continued employment.
• C)Gain from revised expectation of return plan assets.
• D)Increased by employer contributions.
• E)Excess over 10% of the larger of plan assets or PBO.

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Definitions:

Finite Life

Finite life refers to the fixed period during which an asset is expected to be useful before it becomes obsolete or its value is fully depreciated.

Intangible Assets

Non-physical assets that have value, such as patents, copyrights, trademarks, and goodwill.

Amortization Expense

Amortization expense is the gradual charging to expense of the cost of an intangible asset over its useful life.

Useful Life

The estimated timeframe that an asset is expected to be usable for its intended purpose.