The correct Statement : Layton does not need to worry about PCI compliance requirements for handling his customers’ payment information as for his home-based business uses less than a dozen credit card payments per year.
The answer is False.
When receiving, sending, processing, and storing credit score card statistics, corporations are required to adhere to a fixed of 12 security requirements referred to as PCI compliance, or charge card enterprise compliance. PCI compliance needs that small companies manage firewalls, preserve antivirus software, assign precise IDs to each employee with computer access, and encrypt cardholder data.
The PCI safety requirements are managed through the fee Card enterprise security requirements Council, an impartial employer installed through the cardboard networks in 2006. the cardboard networks and price processors are accountable for imposing these requirements. no matter what number of card transactions are done, every service provider needs to be PCI compliant.
To learn more about PCI compliance click here:
brainly.com/question/28335079
#SPJ4
suppose a new product is developed and is supplied by a monopolist with a patent. compared with the monopoly outcome, indicate whether consumer surplus, producer surplus, and total surplus increase, decrease, or remain the same under the following scenarios.
a. The overall surplus, income changes, and consumer surplus all remain unchanged. A conspiring duopoly has similar results to a monopoly. b. Total surplus rises as consumer surplus rises and producer surplus falls.
What is an example of a surplus?When you possess more of anything than you require or intend to utilize, you have a surplus. When you prepare a meal, for instance, you have an excess of food if there is any left over after everyone has finished eating.
What are an excess and a deficit?Your surplus is the difference between your revenue and expenses. When your expenditure exceeds your income, you have a deficit.
To know more about Surplus visit :
https://brainly.com/question/15416023
#SPJ4
web consulting received $3,000 from a customer for services provided. the general journal entry to record this transaction will be:
The general journal entry for web consulting of $3,000 received will result in a debit to the cash account, and a credit to the revenues account for the same and equal amounts.
A journal entry for the financial transaction provided above will have a debit as well as a credit effect. The representation of the general entry has been shown as below,
Date/ Sr, No Particulars Debit Credit
1 Cash Ac. Dr. $3,000
To, Revenues Ac. $3,000
Therefore, the journal entry has been mentioned above.
Learn more about a journal entry here:
https://brainly.com/question/20421012
#SPJ4
suppose aluminum prices rise in international markets. u.s. firms that import aluminum face higher marginal costs and raise prices. this scenario describes:
When aluminum prices rise in international markets, US firms that import aluminum face higher marginal costs and raise prices, this scenario describes Cost-Push Inflation.
Inflation is an increase in the price level of goods and services in an economy. Cost-push inflation occurs when overall prices increase due to increases in the cost of resources.
Higher costs of production can decrease supply (in the economy. Since there have been no significant changes in demand, the price increases from production are passed onto consumers creating cost-push inflation.
Inflation can greatly influence a consumer's purchasing power if wages haven't increased.
To know more about Cost-Push Inflation,
brainly.com/question/25800106
brainly.com/question/25892573
#SPJ4
if overall spending declines, causing the economy to contract, the government could counter this by:
If overall spending falls and the economy contracts, the government may respond by increasing government spending.
Increased government spending, according to Keynesian economics, raises aggregate demand and consumption, resulting in increased output and a faster recovery from recessions.
In response to the financial slowdown and its impact on the economy, the government plays a critical role in boosting economic growth by increasing spending.
With so much spending in this area, policymakers must examine whether government spending is actually promoting economic growth or not. One of the factors that economists believe can drive inflation is an increase in government spending.
To learn more about increasing government spending, please refer:
https://brainly.com/question/15776525
#SPJ4
a small airline company serves many small communities out of fairbanks, alaska. the communities served by this airline form what type of region?
A small airline based in Fairbanks, Alaska, serves many small communities. The communities served by this airline are organized into functional regions.
Fairbanks, located at 65 degrees north latitude, is famous for the northern lights, also known as the aurora borealis, the midnight sun, and seemingly endless sunsets and sunrises.
Fairbanks is the Golden Heart of Alaska, serving as a base camp for Denali National Park and Preserve, the Interior, and the Arctic. The Fairbanks region is Alaska's second-largest population center, with just over 100,000 hardy souls.
Fairbanks is one of Alaska's best year-round destinations, with plenty to do whether you come for the long, warm summer days or to see the spectacular northern lights that light up the night sky during Aurora Season.
With the summer sun shining up to 24 hours a day from April 22 to August 20, the subarctic summer is alive with activity and brimming with growth. In fact, Fairbanks has 70 consecutive days of daylight from mid-May to mid-July.
To learn more about Fairbanks, please refer:
https://brainly.com/question/29125120
#SPJ4
all of the following are key functions of operating a business except: select one: a. economics b. management c. accounting d. finance. e. marketing
The best response is C, accounting meaning that all options—aside from the personal credit system—are necessary for conducting business. The functioning business includes management, marketing, and finances.
At its most basic level, management is a accounting discipline made up of a set of four core tasks: organizing, leading, regulating, and planning.
Generally speaking, strategy, marketing, finances, human resources, technology and equipment, and operations make up the six functional areas of business management. Finance, marketing, and operations management are the three main pillars of business management.
The four facets of management are organizing, leading, controlling, and planning. You must manage your job and team while engaging in all four of these activities to succeed as a manager. These are the cornerstones of each position of professional management.
To learn more about accounting please click on below link
https://brainly.com/question/22917325
#SPJ4
an employee's workstation will operate for a short period of time, but then it unexpectedly shuts down. when you check the workstation, you hear the hum of the cooling fans. what is most likely the issue?
Virtual Desktop Infrastructure (VDI) is a technology that refers to the use of virtual machines to provide and manage virtual desktops. VDI hosts desktop environments on a centralized server and deploys them to end-users on request.
What type of connector is most often used to connect to an older smartphone?
Remember that Android devices generally use USB-C (with older ones using Micro-USB), and iOS-based devices use USB-C or Lightning.
What is the most commonly used connector for networking?
The USB connector is the most common connector type. It's used for two things in computer networking: USB hubs and USB cables. If you have more than one USB device on your desk, a USB hub can help you connect them all without having to use several different cables.
To learn more about Virtual Desktop Infrastructure here:
https://brainly.com/question/28033600
#SPJ4
if the actual unemployment rate is 7% and the cyclical unemployment rate is 2%, then the natural rate of unemployment is:
According to the available data, the natural unemployment rate is 5%. The unemployment rate will be: 7% - 2% = 5% Actual unemployment rate - cyclical unemployment rate
The natural rate of unemployment is the lowest rate of unemployment when inflation is stable or when it is not increasing. The unemployment rate brought on by all variables other than shifts in aggregate demand is known as the natural rate of unemployment (NAIRU). Estimates of the potential GDP are based on the long-term natural rate.
The percentage of the labor force that is unemployed but actively seeking employment and is willing to work is known as the unemployment rate. The business cycle of an industry is linked to cyclical unemployment. It is the direct effect of a decline in consumer demand, which has also led to a decline in labor demand.
learn more about unemployment here:
https://brainly.com/question/14227610
#SPJ4
brett borrowed $16,000 at 7.2% interest to buy a car. it is a 7-year loan. find the monthly payments. (round your final answer to two decimal places.)
The monthly payment of the loan that is taken by Brett for buying car will be equal to $277.78
To find the monthly payments, you need to first calculate the total amount of interest that will be paid over the life of the loan. This can be done by multiplying the loan amount by the interest rate and the number of years the loan is for:
Interest = $16,000 * 7.2% * 7 years = $11,520
To find the monthly payments, you need to add the interest to the original loan amount and then divide this total amount by the number of months the loan is for:
Monthly payments = ($16,000 + $11,520) / (7 years * 12 months/year) = $277.78/month
So the monthly payments on this loan would be $277.78.
Learn more about Loan at:
brainly.com/question/26011426
#SPJ4
Jared is attending college but is also part of the National Guard. On the weekends, he participates in drills or relief work on behalf of the military. Besides knowing that he is serving his country, what other benefit might Jared derive from this arrangement?
A.
Jared stays busy, so he does not get into trouble on the weekends.
B.
Jared does not have to work at a job to support himself.
C.
Jared gets financial assistance with college in exchange for his service.
D.
Jared no longer needs college training.
Another benefit that Jared derives from being part of the National Guard is that C. Jared gets financial assistance with college in exchange for his service.
How is the National Guard beneficial to members ?There are several benefits that one gets from being part of the National Guard. One of them is the benefit to students. State-by-state benefits for students differ, but many of them waive tuition for members of the National Guard. Additionally, if you serve in the National Guard and are federally activated, such as during a deployment, you will start to receive the same G.I. Bill benefits as active military soldiers.
You will get paid while receiving training from the Army National Guard in a skill that is useful in the civilian market. Infantry may not be very useful to the civilian world, but positions in mechanics, medicine, or telecommunications most certainly are. Jared therefore is likely to receive the benefit of getting financial assistance for attending college.
Find out more on the National Guard at https://brainly.com/question/11151755
#SPJ1
when is a contract voidable?a. when consideration is missingb. when agreement is missingc. when the contract was not executed under seald. when one of the parties lacks capacity
A contract is voidable when one of the parties lacks capacity. A legal contract known as the aggrieved party, making the agreement voidable.
A legal contract can be revoked by one of the contracting parties, known as the aggrieved party, making the agreement voidable. In other words, it is a formal agreement that can be revoked owing to things like fraud, coercion, lack of mental capacity, misrepresentation, etc. As a result, it is a lawful contract that can be declared void due to irregularities in how it was formed or scope-expansion.
A formal agreement between two parties that is voidable is one that may become invalid due to a variety of legal grounds, such as: omission of a crucial fact by one or both sides. erroneous, false, or fraudulent. duress or undue influence. A void contract has no effect when it is first signed.
To know more about Voidable Contract visit:
https://brainly.com/question/27516414
#SPJ4
Bill wants to prepare his own taxes but wants a bit more guidance. he wants to file taxes without having to spend much money. what is his best option for filing taxes?
a. prepare his taxes on her own.
b. prepare his taxes with using an electronic tax program.
c. hire someone to prepare his taxes.
d. choose to not file taxes this year.
His best option for filing taxes is to prepare his taxes with using electronic tax program.
What is tax?Policy actions and individual behavior are referred to as tax compliance in order to make sure that taxpayers are paying the correct amount of tax at the proper time and receiving the correct tax allowances and tax reliefs. A tax is a mandatory financial charge or other type of levy that is levied against a taxpayer by a governmental entity in order to cover certain administrative and public expenses. Most nations have a tax structure in place to pay for both governmental and social, public, or generally acknowledged domestic obligations. Some taxes have flat percentage rates based on an individual's yearly income, while the majority have progressive rates based on annual income levels.
To learn more about tax, visit:
https://brainly.com/question/16423331
#SPJ4
the regular payback method is deficient in that it does not take account of cash flows beyond the payback period. the discounted payback method corrects this fault. t or f
The regular payback method is deficient in that it does not take into account cash flows beyond the payback period. Yes, the discounted payback method corrects this fault.
The payback method estimates the time required to "pay back" or repays the initial expenditure. The time it takes to generate enough cash revenues from an investment to cover the cash outflow(s) for the investment is known as the payback period, which is commonly expressed in years.
To find the payback period, divide the investment amount by the annual cash flow. Account and fund managers take the payback technique into account when determining whether to move forward with an investment. One of the downsides of the payback period is that it ignores the time worth of money.
To learn more about Payback method visit: https://brainly.com/question/29562406
#SPJ4
Which of the following agencies provides an effective redress
mechanism to financial consumers who feel have been aggrieved with conduct, products, and services?
a. Securities and Exchange Commission.
b. Bangko Sentral ng Pilipinas
c. Bureau of Food and Drugs
The agency providing effective redress is b. Bangko Sentral ng Pilipinas
By establishing regulations that institutionalize consumer protection as a key element of corporate governance and culture, as well as risk management, the BSP Regulations on Financial Consumer Protection aim to fundamentally strengthen the market conduct practices of Bangko Sentral ng Pilipinas' (BSP) supervised financial institutions (BSFIs).
Additionally, it is required to offer financial customers who feel they have been wronged by a BSFI's actions, goods, or services an efficient means of remedy. It tries to make sure that companies that offer financial services follow ethical business procedures and refrain from actions that could endanger customers.
Read more about the agency on:
https://brainly.com/question/23534924
#SPJ4
the seller of a product has no idle capacity and can sell all it can produce at $39 per unit. outlay cost is $12. what is the opportunity cost, assuming the seller sells internally?
The opportunity cost of a seller, which has no idle capacity and can produce at $39 / unit with an outlay cost of $12, assuming the seller sells internally is $26 / unit.
Opportunity cost is a value of what you lose when you are choosing between two or more options. Every choice that we make has trade-offs, and opportunity cost is the potential benefit when you lose by choosing other option.
From the question given,
The seller has no idle capacity (which the seller can produce and can sell all it can produce).
The sale price is $39 / unit.
outlay cost is $12 / unit.
Outlay cost here represents as explicit costs, which is direct expenses paid. It is also a cost incurred in order to execute a strategy or acquire an asset.
From the information above, the opportunity cost is calculated as follows
= Sale price - outlay cost
= 46 - 12
= $34
Therefore, the opportunity cost, assuming the seller sells internally is $34.
Learn more about opportunity cost https://brainly.com/question/12121515
#SPJ4
when general motors cut its 2006 ad budget by $600 million, it shifted its marketing resources toward which communication channels?
The General Motors shifted its marketing resources towards direct marketing communication channels when it cut its 2006 budget by $600 million. Therefore, the option B holds true.
The direct marketing can be referred to or considered as a method of formation of a communication channel, wherein an organization tries to establish a connectivity with the public by the way of using direct resources, and not relying on external factors of marketing resources or other such methods of marketing, as such.
Learn more about direct marketing here:
https://brainly.com/question/14008832
#SPJ4
Complete question
When General Motors cut its 2006 ad budget by $600 million, it shifted its marketing resources toward which communication channels?
A. indirect marketing
B. direct marketing
C. Digital marketing
D. None of the above
The United States imports more products and services than any nation in the world. True/False
True The US imports more goods and services than any other nation in the globe.
The goods and services that citizens of a country choose to buy rather than those produced in that country are known as imports. Import transactions include payments to sellers who are based outside, thus there is a corresponding outflow of money from the country.
The US imported $2,810.6 billion in goods and services in 2020, down $294.5 billion from the previous year. This amounted to $2,350.6 billion in goods and $460.1 billion in services.
Imports are business dealings in which non-residents sell products and services to a territory's people (such as a country). The correct definition of goods includes and excludes particular "borderline" circumstances.
To know more about goods and services visit:-
https://brainly.com/question/342628
#SPJ4
given the cost formula y = $18,000 + $6x, total cost at an activity level of 9,000 units would be:
Given the cost formula y = $18,000 + $6x, total cost at an activity level of 9,000 units would be $72,000
A function or a formula maps inputs to output. The input is called as independent variable, while the output is dependent variable.
Example of function related to total cost is:
C(x) = 2000 + 5 x
Here, x is the input and C(X) is the output. The input usually is number of unit produced, while the output is total cost.
Cost function consists of two components, fixed cost and variable cost. Fixed cost is constant and does not depend on the number of unit produced, while variable cost varies with the unit produced.
In the given function of formula:
y = $18,000 + $6x
The fixed cost = $18,000
Variable cost = $6x
If x = 9000, then
y = $18,000 + $6 (9000)
= $18,000 + $54,000
= $72,000
Learn more about total cost here:
https://brainly.com/question/25109150
#SPJ4
Double-Dip makes ice cream. The only advantage Double-Dip has over its competitors is taste. Double-Dip costs more and has more calories per unit weight. Promotions for Double-Dip should emphasize the experiential hierarchy of the ABC model of attitudes.
True
False
It is true that the only advantage Double-Dip has over its competitors is its taste.
Who is a competitor?Anyone who engages in business with, owns a company, participates in a sport team, or supports an institution is a competitor. In a race, a person is your competition if they're aiming to outrun you. In business, we don't merely say a person is a rival. Likewise, there are rivals in politics, acting, music, athletics, and other fields. A close competitor is referred to as a rival in business. As a result, competitors produce identical products and are of a similar size. We refer to two businesses as archrivals when they are industry leaders. Coca-Cola and PepsiCo, two market share leaders in the beverage industry, produce nearly identical goods. Coca-Cola and Pepsi are fierce competitors.
To learn more about competitor, visit:
https://brainly.com/question/14752851
#SPJ4
Priceline and expedia are two online travel companies. both are known to utilize ___________ of services such as airline flights and hotel stays to entice customers to purchase both at the same time, for a more reasonable price than what they would pay separately for each of these services.
Both are known to utilize bundling of services such as airline flights and hotel stays to entice customers to purchase both at the same time.
Bundling occurs when businesses combine multiple of their goods or services into one unit, frequently at a cheaper cost than they would charge customers to purchase each item separately.
A marketing tactic known as bundling enables customers to conveniently purchase a number of goods and/or services from a single provider. These bundled products and services are typically related, but they can also include unrelated goods that appeal to a certain clientele.
Numerous businesses produce and offer a variety of goods and services. They must choose whether to provide these goods or services for sale singly at a set price or in packages, or bundles, at a set cost.
To know more about bundling:
https://brainly.com/question/28385126
#SPJ4
a popular leading indicator of economic activity is: group of answer choices stock index returns. industrial production. the prime rate of interest. commercial and industrial loan volume.
Grouping based on timing. GDP is correlated with equity prices, but business credit is a lagging indicator. According to their typical timing in connection to the business cycle,
Economic indicators can be divided into three categories: leading indicators, lagging indicators, and coincident indicators.
Stock index returns are a common leading indication of economic activity (see the list of possible answers). production in industry. interest rates at prime. volume of commercial and industrial loans.
First, look at these indicators. Statistics that come before economic developments are called leading economic indicators. They foresee when the business cycle will next change. When the economy is either emerging from or entering a recession, this becomes extremely important. Coincidence and trailing indicators are the other two categories of indicators.
To learn more about indicators please click on below link
https://brainly.com/question/29439458
#SPJ4
average lead time demand in a warehouse is 24000 units. the standard deviation of lead time demand is 4,500 units. the warehouse orders 60,000 units whenever inventory reaches 28,000 units. what is the service level? group of answer choices
The service level when the standard deviation of lead time demand is 4,500 units is 62.5%.
How do you calculate the service level?To calculate the service level, we need to know the percentage of lead time demand that is covered by the reorder point. This can be calculated using the following formula:
Service level = 1 - (Standard deviation of lead time demand / Average lead time demand) x (Reorder point / Safety stock)
Substituting the given values, we get:
Service level = 1 - (4500 / 24000) x (28000 / 30000) = 1 - 0.375 = 0.625, or 62.5%
Therefore, the service level is 62.5%.
To know more about Standard deviation of demand, visit:
brainly.com/question/17173410
#SPJ4
the purchase of goods and services, the sale of goods and services to customers, and costs to operate the business are all reported on the statement of cash flows under activities.
The purchase of goods and services, the sale of goods and services to customers, and costs to operate the business are all reported on the statement of cash flows from operating activities.
What is cash flows from operating activities?The amount of money a business earns from ongoing, routine business operations, such as producing and selling products or offering clients a service, is known as cash flow from operating activities (CFO). It is shown as the first portion of the cash flow statement for a corporation.
Investment income and expense are not included in cash flow from operational activities or long-term capital expenditures. CFO, also known as operating cash flow (OCF) or net cash from operating activities, focuses exclusively on the core business.
Thus purchase of goods and services are shown in cash flow from operating activities.
Learn more about cash flows from operating activities refer:
https://brainly.com/question/29627592
#SPJ1
when comparing the direct write-off method and the allowance method of accounting for uncollectible receivables, a major difference is that the direct write-off method
When comparing the direct write-off method and the allowance method of accounting for uncollectible receivables, a major difference is that the direct write-off method is used primarily by small companies with few receivables.
One method of recording bad debt in an accounting system is known as the direct write-off approach.
When utilizing this approach, companies wait until a debt has been determined to be uncollectible before noting it in their records as being in that category. The uncollectible sum is deducted from an account designated for bad debt, and the same amount is credited to an account designated for accounts receivable.
In spite of the fact that there are certain circumstances in which the direct write-off method makes more sense, the allowance method is generally considered to be the more acceptable practice. This is because the allowance method is another accounting method that businesses can use to handle bad debt.
To know more about Direct write-off method
https://brainly.com/question/13708711
#SPJ4
a university is competing with other state universities for a bigger share of limited state funds. what level of conflict is this?
The situation you describe, in which a university is competing with other state universities for a larger share of limited state funds, is an example of competition.
Competition is a form of conflict that occurs when two or more parties strive for the same goal or resource. In this case, the goal is a larger share of state funds, and the resource is the limited amount of money available from the state. Competition is a common and healthy aspect of many organizations and institutions, as it can help drive innovation, improve efficiency, and motivate individuals to perform at their best. However, it can also lead to tension and negative feelings among the parties involved.
Learn more about the competition here:
https://brainly.com/question/1488584
#SPJ4
is it better for our economy to allow free market forces to govern our financial services or should there be more regulation by the federal government and the federal reserve?
No, is it not better for our economy to allow free market forces to govern our financial services but the mix of Federal Reserve and market forces work thoroughly for the financial firms.
The economy suffers serious repercussions when financial services are left to the dictates of the free market, including misuse by powerful financial institutions, profit-maximizing cartels, and the potential extinction of smaller financial institutions. If there is no action from the government, the main financial institutions may implement some policies to seize the largest possible market share.
The Federal Reserve's overregulation of the financial industry has the potential to harm financial services and financial sector interests. Therefore, the combination of the Federal Reserve and market forces benefits financial enterprises greatly.
To learn more about Market forces visit: https://brainly.com/question/16195516
#SPJ4
5 . the bank charged a service fee of $55. how would this information be included on the bank reconciliation? a. a deduction on the book side b. an addition on the book side c. an addition on the bank side d. a deduction on the bank side
No change to the bank balance is required because the service charge was accurately reported on the bank statement.
Which of the following bank reconciliation items would necessitate recording a journal entry in a company's books?The final day of the bank statement frequently includes bank service fees. It takes a journal entry to credit Cash and debit an item like Bank Charges or Miscellaneous Expense because the service charge is on the bank statement but hasn't yet been recorded on the company's books.
Which of the following requires a bank-side change for the bank reconciliation?Due to pending checks and deposits in transit, interest on balance that appears on a bank reconciliation would necessitate an adjusting entry.
To know more about bank statement. visit:
https://brainly.com/question/22786262
#SPJ4
according to hazlitt, what happens when the government tries to save a particular industry by giving it a direct subsidy? (choose all that apply)
Wealth is moved from one industry to the one that is being subsidised. Labor and capital are drawn away from profitable industries and toward unprofitable ones.
Wealth production decreases. According to Hazlitt. Producers' revenues rise as a result of subsidies. Low-income consumers can afford necessities thanks to subsidies. Consumers who purchase a good at a reduced Labor benefit from subsidies. A producer will be able to manufacture more goods thanks to a subsidy, which leads to increased consumption. In terms of economics, a subsidy creates a wedge by increasing the price producers earn while decreasing the price consumers pay, incurring a cost for the industries government.
To learn more about industries, click here.
https://brainly.com/question/7721379
#SPJ4
andrew, a real estate broker representing the buyer in a transaction, has entered into a dual agency arrangement after agreeing to the mls cooperative arrangement. what does andrew owe the seller in the transaction...?
Andrew owe the seller in the transaction Fiduciary responsibilities.
Fiduciaries have a duty to act in others' best interests, particularly when it comes to money. This duty is known as fiduciary duty. It typically indicates that the obligations involve a fiduciary managing the assets of their customers and working in their best interests.
Fiduciaries must behave in the best interests of their beneficiaries, impartially weigh the competing interests of various beneficiaries, prevent conflicts of interest, and refrain from acting in their own or a third party's best interests.
The connection between the fiduciary and the client or beneficiary is known as a fiduciary relationship. The following is a list of fiduciary relationship examples:
Principals and brokersBeneficiaries and trusteesclients and attorneysTo learn more about fiduciary relationship refer here
https://brainly.com/question/13840999#
#SPJ4
Complete question
Andrew, a real estate broker representing the buyer in a transaction, has entered into a dual agency arrangement after agreeing to the MLS cooperative arrangement. What does Andrew owe the seller in the transaction...?
A. Divided Loyalty
B. Fiduciary responsibilities
C. Andrew does not owe the seller anything
D. Advance consent to dual agency
which employer retirement plan specifies the benefits promised to the employee at the normal retirement age?
A defined benefit plan specifies the benefits promised to the employee at the normal retirement age.
At retirement, a defined benefit plan guarantees a certain monthly benefit. This guaranteed benefit may be specified in the plan as a specific financial figure, such as $100 per month after retirement.
A defined-benefit plan is an employer-sponsored retirement program where benefits are calculated for employees using a formula that takes into account a number of variables, including length of service and pay history.
The company is in charge of managing the investments and risk associated with the plan, and will often do so by hiring a third-party investment manager.
Unlike with a 401(k) plan, an employee often cannot withdraw money at will. Instead, at a certain age specified by the plan's provisions, individuals become qualified to receive their benefit as a lifetime annuity or, in some situations, as a lump amount.
Know more about defined benefit plan here:
https://brainly.com/question/28603314
#SPJ4