The Key Difference Between Defined Benefit and Defined Contributions Post-Employment

question 21

Multiple Choice

The key difference between defined benefit and defined contributions post-employment plans is that:

• A) the employee bears the risk in a defined benefit plan, whereas the employer bears the risk in a defined contribution plan
• B) the fund bears the risk in a defined benefit plan, whereas the employee bears the risk in a defined contribution plan
• C) the employer bears the risk in a defined benefit plan, whereas the employee bears the risk in a defined contribution plan
• D) the employer bears the risk in a defined benefit plan, whereas the fund bears the risk in a defined contribution plan

Comprehend the competing values framework and its application to organizational cultures.

Identify and apply tools and frameworks for assessing and changing organizational culture.

Recognize the importance of personal relationships, mentorship, and coaching in clan cultures.

Understand the characteristics of hierarchy, adhocracy, and market cultures within the competing values framework.

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Definitions:

Spending Variance

The difference between the budgeted or planned amount of spending and the actual amount spent over a specific period, often analyzed in budgeting and financial management.

Actual Level

The real, measured level of output, performance, or activity experienced by an organization, as opposed to projected or estimated levels.

Occupancy Costs

Expenses related to occupying a physical space, including rent, utilities, and property taxes.

Flexible Budget

A flexible budget adjusts to changes in activity levels, providing a more useful comparison of actual to budgeted performance.