Pleasant Company Has Established a Pension Plan for Its Employees

Essay

Pleasant Company has established a pension plan for its employees that operates as follows: Each year,Pleasant Company places a fixed dollar amount in a pension fund for each employee.The funds are then invested.Upon retirement,each employee is entitled to the cash value of the funds that have been invested in his/her name.This arrangement is an example of which of the following?
A.Defined benefit program.
B.Defined contribution program.
C.Contingent program.
D.Deferred timing program.