Multiple Choice
Which of the following is NOT true about a defined contribution plan?
A) No balance sheet liability is reported in connection with the defined contribution plan.
B) Upon retirement, the employee will receive all the money contributed to the pension fund along with the earnings of those contributions
C) The amount distributed in the defined contribution plan is dependent upon various factors such as salary increases, employee turnover, and employee life span.
D) Each year a company reports a pension expense of the amount contributed to the employees' pensions.
Correct Answer:
Verified
Correct Answer:
Verified
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