Define defined benefit plan

Q: Define the term recovery allowance percentages?

A: Tax based depreciation rates are provided by the IRS and are called MACRS which is the modified…

Q: compensation in commodatum.

A: Commodatum is nothing but a roman law which states that commodatum is an agreement which is a type…

Q: Describe Defined Benefits Plan and Defined Contribution Plan. 2. What is the difference between…

A: The question is related to Employees Benefits.Both the Plan are post employment Plans. Accounting…

Q: compare the presentation and disclosure of defi ned contribution and defi ned benefi tpension plans;

A: Pension Plans: These types of plans provide retirees the benefit of the services that they provided…

Q: Explain the difference between defined-benefit and defined-contribution plans?

A: Solution:- Pension plans are to provide a security to the retiring employees after their retirement.…

Q: A Defined Benefit Plan is a plan

A: There are several benefit plans available for the benefit of the employees working in different…

Q: Where a post-employment benefit plan contains characteristics of both defined contribution and…

A: The employer needs to pay post employment benefits in addition to salary. The post employee benefits…

Q: Distinguish between program service expenses and supporting service expenses.

A: A nonprofit organization’s expenses can be classified into two types, they are expenses for program…

Q: Knowledge Check 01 Which of the following statements are correct with regard to defined benefit…

A: OCI is called other comprehensive income

Q: Define Effective interest method.

A: Effective interest method: It refers to the method of accounting that is usually used for the…

Q: Which of the following statements is not correct about defined contribution plans?

A: The defined contribution plan shows the retirement benefit to the employees of the company. The…

Q: Differentiate between the accumulated benefit obligation and the projected benefit obligation.

A: ABO (Accumulated benefit obligation) and PBO (Projected benefit obligation) are similar in most of…

Q: Define benefit corporation (B-Corp)

A: Benefit corporation:  A benefit corporation is a kind of for-profit corporate organizations,…

Q: Distinguish between tangible and intangible benefits.

A:

Q: Distinguish among the vested benefit obligation, the accumulated benefit obligation, and the…

A: Vested benefit obligation (VBO) VBO is obtained as the present value of the benefit obligation which…

Q: Which of the following are the rights of agents: A Right of subsidy; right of support B Right of…

A:

Q: According to PAS 26, a hybrid plan is accounted for as a. defined benefit plan b. defined…

A: Ans. PAS 26 talks about various retirement benefit plans. It consists both defined benefit plan and…

Q: Determine the equivalent net benefits?

A: We can determine the equivalent net benefits by subtracting total costs from total benefits. Total…

Q: Explain pension fund

A: Pension funds, also known as retirement funds, are investment options that allow an individual to…

Q: Define Homestead allowance.

A: Generally probate laws provide adequate protection to the family members of the decedent whom the…

Q: Plan forfeitures under a defined benefit plan may be allocated to rem manner or go towards reducing…

A: A defined benefit plan refers to the plan which is based around the employer who pays a defined sum…

Q: What is a defined benefit postretirement plan?

A: Pension plan:   This is the plan devised by corporations to pay the employees a kind of compensation…

Q: Distinguish betwenn program service expenses and supporting service expenses.

A: Expenditures related to the public services offered by the NFP are referred to as program service…

Q: Define defined benefit (DB) retirement plan

A: It is such a plan that is taken care of by the employer. In this plan, all the benefits accrued to…

Q: They are the Defined Contribution Plans and Defined Benefit Plans. What are the distinct differences…

A: Retirement plans are segregated into 2 plans Defined Benefit Plan (DBP) Defined Contribution Plan…

Q: Define Vested benefits.

A:

Q: Describe the major difference and the major similarity between the vested benefit obligation and the…

A: Differences:   The actual present value obligation of the pension that is payable to the employee is…

Q: What is a Postretirement Benefit Plan?

A:

Q: According to PAS 19, how are other long-term benefits accounted for?

A: Philippine Accounting Standards (PAS) are the set of accounting standards based on the International…

Q: The balance of the present value of defined benefit obligation is affected by all of the following…

A: solution concept The balance of the present value of defined benefit obligation is affected by the…

Q: In determining the present value of the prospective benefits (often referred to as the defined…

A: Defined benefit obligation means a defined plan of contribution from employer to employees'…

Q: What is the amount of the plan assets available to pay benefits? What are the factors that can cause…

A:

Q: Define net pay.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Define the following terms: Input risks, financial risks, property risks, personal risks

A: Input risks refers to the input price risk or commodity price risk. The risk arises for either of…

Q: How do defined-benefit plans differ from defined contribution plans?

A: For long, pension has been taking care of post-retirement needs of a large section of retirees.…

Q: Which of the following cause a decrease in the funded status of a defined benefit plan? (Select all…

A: Plan obligation are the amount that is required to pay to employees as a benefit

Q: Define Households.

A: A household refers to a social entity of people living in a house or a home. However, this…

Q: Define defined contribution plan

A: A defined-contribution (DC) plan is a retirement plan that lets an employee to contribute a fixed…

Q: What are program services expenses?

A: Non-Profit Organization is legal entity formed to serve the welfare for the people & society. It…

Q: Determine the components of postretirement benefit expense

A: Post-retirement benefit expense:   This is an expense to the employer-paid as compensation after the…

Q: Define defined contribution (DC) retirement plan

A: A retirement plan refers to the savings plan in which people have invested some portion of their…

Q: How is the Accumulated Benefit Obligation (ABO) different from the Projected Benefit Obligation…

A: The value that is used for the compensations of the employees is the only difference between the…