Listed Below Are Five Terms Followed by a List of Phrases

question 51

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.
-Service cost

• 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:

Absolute Value

A number's distance from zero on the number line, without considering its direction; denoted by two vertical bars on either side of the number.

Second Quartile

Also known as the median; it splits the data set into two halves, with 50% of the data below it and 50% above it.

Relative Standing

A measure or ranking of a value or observation within the context of a larger set of data or population.

Observation

An act of recording the occurrence or existence of a specific entity or phenomenon.