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Match the Items Below by Entering the Appropriate Code Letter

Question 39

Matching

Match the items below by entering the appropriate code letter in the space provided.

Premises:
A pension plan where employee receipts after retirement are defined.
A contractual arrangement which is in effect a purchase of property.
A potential liability that may become an actual liability in the future.
The cash paid by the employer to the pension plan is defined.
A contractual arrangement that gives the lessee temporary use of property.
Responses:
Defined-contribution plan
Operating lease
Finance lease
Contingent liability
Defined-benefit plan

Correct Answer:

A pension plan where employee receipts after retirement are defined.
A contractual arrangement which is in effect a purchase of property.
A potential liability that may become an actual liability in the future.
The cash paid by the employer to the pension plan is defined.
A contractual arrangement that gives the lessee temporary use of property.
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