Which of the following pension-related definitions is not correct?
A) Vested benefits are payments that are not contingent on the employee's continuing in the service of the employer.
B) Present value is the current worth of an amount or amounts payable or receivable in the future.
C) Actuarial assumptions are those made by actuaries concerning future events affecting pension costs.
D) Service cost is the amount paid annually to a funding agency under an unfunded pension plan.
D
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Which of the following accounts could increase as a result of adjusting entries?
A) Prepaid Insurance. B) Accounts Receivable. C) Unearned Fees. D) Office Equipment.
Answer the following statements true (T) or false (F)
Agency theory studies are always inductive.
An individual who is high on the sociability continuum tends to communicate in an ordered and measured manner
Indicate whether the statement is true or false
Suppose Bill's credit card is stolen and he notified his credit card company of this fact. Which of the following is true regarding the amount of unauthorized charges made before Bill notified his credit card company?
a. Bill is not responsible for any of the unathorized charges. b. Bill is responsible for the first $50 of unathorized charges. c. Bill is responsible for the first $100 of unauthorized charges. d. Bill is responsible for half of the unauthorized charges.