A "cash balance" retirement plan is a type of
A)
defined benefit plan.
B)
Social Security plan.
C)
defined contribution plan.
D)
annuity.
A
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Which one of the following types of losses is excluded from the determination of net income in income statements?
a. Material losses resulting from transactions in the company's investments account. b. Material losses resulting from unusual sales of assets not acquired for resale. c. Material losses resulting from the write-off of intangibles. d. Material losses resulting from correction of errors related to prior periods.
Which of the following is true of the liability of an incoming partner?
A) An incoming partner is liable for the previous debts of the partnership. B) An incoming partner is equally liable for all existing debts of the partnership. C) An incoming partner is liable for the debts of the partnership only to the extent of his or her capital contribution. D) An incoming partner is not liable for the future debts of the partnership.