They are the Defined Contribution Plans and Defined Benefit Plans. What are the distinct differences between the two plans? State the core differences and also their advantages and disadvantages, if any. a. Defined Contribution Plan: b. Defined Benefit Plan:

Q: fringe benefits and de minimis benefits?

A: Answer  There are various countries helping with various benefits for its employees and pay…

Q: Which of the following is not a procedure in accounting for defined contribution plans?…

A: A defined-contribution plan refers to the type of retirement plan under which the employees add up a…

Q: Compensation income may be in the form of monetary or in-kind benefit. a.true b.false

A:

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: What is meant by a taxpayer's 'preservation age' and a 'condition of release', why are these…

A: Here discuss about some term related with the taxpayers which are important to get avail the…

Q: Which of the following is reported in profit or loss in accordance with PAS 1? I.      Sales revenue…

A: PAS 1: Presentation of financial statement prescribes the basis of presentation of general purpose…

Q: Understand the interrelationships among the elements that constitute a definedbenefit pension plan

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

Q: The components of postretirement benefit expense are similar to the components of pension expense.…

A: Other postretirement benefits: The postretirement benefits which are provided by employers, other…

Q: Differentiate between a defined contribution pensionplan and a defined benefit pension plan. Explain…

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

Q: Distinguish fundamentally between a defined contribution and a defined benefit pension plan.

A: Given : This question tells about Distinguish between a defined contribution pension plan and a…

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: Define the term Equal-Payment Series?

A: The goal of this method of investment is to determine the present value of an equivalent payment…

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: Direct Compensation coverage.

A: The determinants of direct financial compensation can be classified into two categories, external…

Q: The two main types of pension plans are defined benefit plans and defined contribution plans.…

A: Pension plan: Pension plan is an agreement between the employer and employee. After the retirement…

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: 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: Define the Equal-Payment Series?

A: Answer: The main goal of this investment method is to calculate the present value of equivalent…

Q: The measurement of defined benefit cost is usually made by a trustee.    a. TRUE   b. FALSE

A: A defined-benefit plan is an employer-sponsored retirement plan in which employee benefits are…

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 are the assumption of differences between pension plans and other postretirement benefit plans?

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

Q: S1: Under a defined contribution plan, the amount of a participant’s future benefits is determined…

A: As per IAS 26 Accounting and Reporting by Retirement Benefit Plan the two given statements are of…

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 two main types of pension plans are defined benefit plans and defined contribution plans.…

A: Pension plan is a plan under which either the employer or the employee contributes small amount of…

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: Under PAS 19, which of the following statement is true? I. Current service cost is the increase in…

A: The PAS 19 is related to pension defined benefit obligation plan, when an employee provides the…

Q: Group of answer choices a. True b. False

A: The final salary plan is a conventional kind of a defined benefit plan in which the pension paid is…

Q: For Pension Plans: A. Describe the differences between a Defined Benefit pension plan and a Defined…

A: Defined Benefit Pension Plan Defined benefit pension plan can clearly describes as it is absolutely…

Q: In defined benefit plans no separate investment accounts exist for each participant but rather they…

A: A defined benefit plan is a type of retirement plan, the objective of this plan is to provide a…

Q: Required: a. if arturito will accept the special order, what is the incrementak benefit(loss)?

A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…

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 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: 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: When it comes to pension plans and other postretirement benefit schemes, what assumptions are made…

A: The answer

Q: Which of the following is an indicator that an employee benefit is provided in exchange for…

A: The question is related Employee benefits. As per employee benefits  It requires recognition of the…

Q: The measurement of defined benefit cost is usually made by a trustee.  True or false?

A: Defined-benefit plan: It is an Employer-Sponsored Retirement Plan in which employee benefits are…

Q: Give examples of the Equal Payment Series?

A: The goal of this method of investment is to determine the present value of an equivalent payment…

Q: Define each of the following terms:a. Lessee; lessor

A: Lessee is a person who holds lease of a property or he is the person who has given  the property On…

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…

Q: What is Accumulated benefit obligation?

A:

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.