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Accounting for Post-Retirement Benefit Expenses

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What type of pension plan calls for fixed contributions?

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1. What do you call the assets held by a long-term employee benefit fund that serve as an investment vehicle for participating employees?

2. What do you call the type of retirement plan in which an employer promises a specified pension payment on retirement that is predetermined by a formula based on the employee's earnings history, the tenure of service, and age?

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About This Quiz & Worksheet

See what you know about accounting for post-retirement benefit expenses by using the quiz/worksheet combo. When going through the quiz, you'll need to know about different types of retirement plans.

Quiz & Worksheet Goals

Take the quiz to check your knowledge of:

  • The name for the dividends, interest, and capital gains generated by assets held in a company's pension fund
  • Pension plan that calls for fixed contributions
  • The gradual recognition of pension expense to be incurred in the future

Skills Practiced

  • Information recall - retrieve the details you picked up regarding a retirement plan promised to employees that's predetermined by a formula
  • Reading comprehension - ensure that you draw the most important details from the lesson on accounting for post-retirement benefit expenses
  • Knowledge application - use your knowledge to answer questions about different pension expenses and funds

Additional Learning

If you would like to review more, use the lesson called Accounting for Post-Retirement Benefit Expenses. Objectives you can complete include:

  • Identify the types of employee benefits
  • Review components of a defined benefit expense
  • Define amortization
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