Question: A government has a defined contribution plan for its General Fund employees. During the year, it contributed $ 1 , 0 8 0 , 0

A government has a defined contribution plan for its General Fund employees. During the year, it contributed $1,080,000 to its employees individual defined contribution retirement accounts. At its fiscal year-end, the government still owes $180,000 to its employees individual defined contribution retirement accounts according to the benefit terms of the defined contribution plan.

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