Which type of pension plan would you prefer to be covered under (i.e., defined benefit, defined contribution, or cash balance) and why, if you were an employee? An employer?

Q: WHAT IS THE CORRECT JOURNAL ENTRY WHEN WITHHOLDING AN EMPLOYEE'S CONTRIBUTION TO A PENSION PLAN?

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Under a defined contribution pension plan _________________ bear the investment risk, while under a…

A: Lets understand the meaning of defined benefit plans and defined contribution plan. Defined benefit…

Q: Which of the following factors is least likely to affect the amount of retirement benefits under a…

A: Defined benefit pension plans are the retirement designs that include providing a fixed and…

Q: In a defined contribution plan, a formula is used that: Ensures that pension expense and the cash…

A: Post employment benefit plans classified into  1: defined contribution plan 2: defined benefit plan…

Q: 4.. A. What are the main differences in the management of a defined benefit pension plan, compared…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: How does an “asset gain or loss” develop in pension accounting? How does a “liability gain or loss”…

A: Plan assets: Assets which are created, maintained and planned for a specific purpose or benefit is…

Q: A tax-advantaged pension plan, such as a 401(k), that both employer and employee may contribute that…

A: 401(k) is a defined contribution pension plan in which employee and employer can make contributions…

Q: What are the major differences between postretirementhealthcare benefits and pension benefits?

A: Both pension funds and post retirement healthcare benefits accrue to an employee after his/her…

Q: Describe the Components of Pension Expense.

A: Pension fund: A fixed sum of money is receivable in future or after the age of retirement, which the…

Q: ification fo

A: Employees working with an entity for a specific number of years are eligible for retirement…

Q: Why is pension plan underfunding not a concern in your present employment?

A: Definition of pension plan: This is the plan devised by corporations to pay the employees an income…

Q: Explain how a defined contribution pension plan and how a defined benefit plan work. Which pension…

A: A defined contribution plan is a type of corporate retirement plan in which an employee contributes…

Q: Describe how a company's pension plans are reported when there are many plans, some of which are…

A: Organizations establish a single pension plan for its employees. However, some organizations have…

Q: Carson Company sponsors a single-employer defined benefit pension plan. The plan provides that…

A: Answer 1: Two accounting challenges are as followes:   Cash payments: The payments under these plans…

Q: If a pension plan is both contributory and qualified, it is

A: First let us understand the key terms in the question. Pension plan- A Pension plan is an…

Q: Differentiate between “accounting for the employer” and “accounting for the pension fund.”

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: Depending on when an unfunded pension liability is to be paid, it will be classified on the balance…

A: Yes, unfunded pension liability will be classified as a liability on the BS Balance Sheet It is…

Q: What does the “pension asset” represent? Are you interviewing with a company whose pension plan is…

A: Pension Obligation: It refers to the commitment provided by the employer to pay its employees, the…

Q: Define Employee Retirement Income Security Act (ERISA)

A: The 1974 Employee Retirement Income Security Act secures American pension resources by enforcing…

Q: A company shows in its balance sheet, a provision for pension costs, Select one: a. This company has…

A: Defined Benefit Plan:-It is a benefit in which employees get extra benefits under law at the time of…

Q: Pension benefits contributed by the employer affects both the projected benefit obligation and…

A: A projected benefit obligation (PBO) is an actuarial measurement of what a company will need at…

Q: Define the service cost component of the periodic pension expense.

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: In a defined-benefit plan, a formula is used that Select one: a. requires that the benefit of gain…

A: A defined benefit plan is the plan which is contributed by the employer on behalf of the employee to…

Q: If an employer has a defined benefit pension plan, what components would make up its net periodic…

A: Defined benefit pension plans have a specific and a determinable benefit, which can take the form of…

Q: What are the benefits provided by Employee Retirement Income Security Act?

A: The Employee Retirement Income Security Act is an organizational law that recognizes the minimum…

Q: Distinguish between defined contribution and defined benefit pension plans. Justify the employer's…

A: The Answer :

Q: In a defined contribution plan, a formula is used that: O Requires an employer to contribute a…

A: Defined contribution plans are funded by the employees and the amount if collected for their…

Q: components of pension expense

A: Pension expense is the cost incurred by employer towards employee's pension plans.

Q: What interest rates may be used to calculate the pension expense's interest component?

A: The Answer for interest rates may be used to calculate the pension expense's interest component:

Q: A defined-contribution plan specifies the benefits the employee will receive at the normal…

A: Defined Contribution Employer Contributes specific periodic amounts of contribution to the plan…

Q: What are the major differences between post-retirement healthcare benefits and pension benefits?

A: For the benefits of pension, it is fixed with the contract terms and only the term is not known. And…

Q: Which of the following types of pension plan will provide benefits that are dependent on the return…

A: Defined Contribution Plan Defined contribution plan which allows the employees and the employer to…

Q: What is a pension plan? What motivates a corporation to offer a pension plan for its employees?

A: Pension:   A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: How do the Defined contribution pension plans becoming increasingly popular vehicles for employers?

A: Pension plan: This is the plan devised by corporations to pay the employees an income after their…

Q: What are the key elements of a defined benefit pension plan?

A: Definition: Pension expenses are used to report an employer’s annual cost for maintaining an…

Q: What are the components that might be included in the calculation of net pension cost recognized for…

A: Pension:   A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: In what ways are pension plans and other post-retirement benefit programs different, and why

A: This question explains about  pension plans and other post-retirement benefit programs different,…

Q: describe the components of a company’s defi ned benefi t pension costs;

A: COMPONENTS OF COMPANY   1.  Cash : A primary factor in a big series of scenarios comprising of start…

Q: What exactly does "previous service cost" mean? When is past service cost recognized as a pension…

A: This question about  describes "Previous service cost" might indicate several different things. When…