Cash balance plan is a retirement plan where workers are credited with a part of their pay annually and a predetermined rate of interest.
<h3><u>What is a Cash balance Plan?</u></h3>
A defined-benefit pension plan with a lifetime annuity option is referred to as a "cash balance pension plan."
<h3><u>What are some features of Cash balance plans?</u></h3>
- Based on defined-benefit needs, the financing caps, funding requirements, and investment risk are established.
- Like a defined-contribution plan, this type of plan is managed on an individual account basis.
- The advantage of these programs is that age-based contribution caps are available.
- Pretax contributions enable those 60 and older to save significantly more money each year than younger people.
You can learn more about defined pension plans work using the following link:
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Answer:
3. Correctly ignored a sunk cost
Explanation:
Sunk costs refer to those costs which have been incurred in the past and which can no longer be recovered. For example, past expenditure on research and development with no current or future benefits represent sunk costs which can no longer be recovered.
Sunk costs are irrelevant for decision making process as they do not relate to current projects and yield no economic benefit.
In the given case, Manuel had already purchased a $10 movie ticket, which can neither be transferred nor eligible for a refund. Later when he does not exercise the option of going for the movie and opts for a concert instead, the amount of 10$ spent on the movie represents a sunk cost which is non recoverable.
Answer:
40%
Explanation:
Oriole company has an actual sales of $1,100,000
The break even sales is $660,000
Therefore, the margin of safety can be calculated as follows
= Actual sales-break-even sales/actual sales
= $1,100,000-$660,000/$1,100,000
= $440,000/$1,100,000
= 0.4×100
= 40%
Hence the margin of safety is 40%
<span>Can create mental map of the chosen routes. By following certain routes on a daily basis, a person can mentally remember how to get to destination without having to do recalling that anyone would do when they haven't fully remember how to get there. There wouldn't be a need to use GPS or mapping app, if he or she can recall how to get there.</span>
