The defined benefit plan is a type of plan in which the employer's contribution into the pension fund is based on a formula.
Answer the following statement true (T) or false (F)
False
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Resources that are used in operations more than one year with no physical substance are called:
A) current assets. B) intangible assets. C) plant assets. D) property, plant, and equipment.
The IMA Standards of Ethical Practice include confidentiality, competence, credibility, and integrity
Indicate whether the statement is true or false
Businesses follow a defined buying decision process in order to ensure the goods and services they purchase will meet their organization's needs. The process has multiple stages, and in one of the stages the business will evaluate each component of potential purchase. This includes evaluating the quality, design, materials and any other relevant aspect of the purchase. This evaluation takes place in which of the following stages of the business buying decision process?
A. First stage - The business recognizes a problem or need exists B. Second stage - Product specifications are developed C. Third stage - Search for potential products D. Fourth stage - Product for purchase is selected E. Fifth stage - Product quality and supplier performance is evaluated
Oral contracts are
a. unenforceable in court. b. easier to prove than written contracts. c. harder to prove than written contracts. d. illegal in some states.