A pension plan that grants mortgage loans
A. is an example of a financial intermediary.
B. cannot suffer losses.
C. is called a savings and loan association.
D. is not a financial intermediary.
Answer: A
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Pona, Inc. has a defined benefit pension plan for its employees. The plan assets and projected benefit obligation at the beginning of the year were $608,000. The accumulated benefit obligation at the beginning of the year was $456,000. The expected return on plan assets was 8% while the actual return was 9%. The service cost for the year was $130,841. The actuarially assumed discount rate was 7% and amortization of prior service costs was $17,750.The interest cost for the year is:
A. $41,040. B. $42,560. C. $31,920. D. $36,480.
The response rates for coupons are very high, so the expense per redemption is low
Indicate whether the statement is true or false
Which of the following correctly describes the accounting treatment for interest payable?
A) It is shown on the balance sheet as a current liability. B) It is shown on the income statement as an operating expense. C) It is shown on the balance sheet as a current asset. D) It is shown on the balance sheet as a long-term liability.
Harry is one of the top managers in RPLD Corporation. He, along with seven other members, takes the major decisions of the company and oversees its operation. Although Harry is not the owner of the corporation, he holds stocks in the company and has the power to appoint a chief executive officer (CEO) for the company. In this scenario, Harry is part of the _____ of RPLD Corporation.
A. board of valuers B. board of directors C. board of corporators D. board of regents