A pension plan which requires the employer to make annual pension contributions, with no promise to employees regarding future pension payments, is termed
A) funded
B) unfunded
C) defined benefit
D) defined contribution
D
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An offer cannot stipulate that acceptance must be by a specified means of communication
Indicate whether the statement is true or false
Which of the following correctly expresses an important difference between a condition precedent and a condition subsequent?
A) The occurrence of a condition precedent keeps a contract alive, whereas the occurrence of a condition subsequent terminates the contract. B) The contract is discharged if the condition precedent occurs, whereas the parties must be given time to "cure" if the condition subsequent occurs. C) A condition precedent occurs before the parties reach an agreement, whereas a condition subsequent happens after the parties reach an agreement. D) A condition precedent is governed by the Uniform Commercial Code (UCC), whereas a condition subsequent is governed by the Uniform Computer Information Transaction Act (UCITA).
Generally, the order of cost, from the least expensive to the most expensive, for long-term capital of a corporation is ________
A) new common stock, retained earnings, preferred stock, long-term debt B) common stock, preferred stock, long-term debt, short-term debt C) preferred stock, new common stocks, common stock, retained earnings D) long-term debt, preferred stock, retained earnings, new common stock
Compute the premium price at which a $1,00 . bond quoted at 106 ½ would sell