Which of the following statements is not correct about defined contribution plans?
Which of the following statements is not correct about defined contribution plans?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Accounting
Which of the following statements is not correct about defined contribution
plans?
A. The employer controls the investment choices on the employees' behalf.
B. The promise is the amount of contributions the employer will make
periodically.
C.The size of payments depends on success of investments.
D. No explicit promise is made about the size of the periodic benefits the
employee will receive during retirement.
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