In regard to pension plans, define assumptions. What is the relationship between a gain or loss and an assumption?
Describe the assumption of pension plans, and explain the relationship between a gain or loss and an assumption.
Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after their retirement, in the form of pension.
Identify when the pension plan is qualified, and explain the advantages of a qualified pension plan as follows:
Assumptions and estimation of pension plan are made by the items that are included in pension cost and benefits occur for the future event...
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