Which best explains a "curtailment'?

		A reduction in the number of employees or the amount of benefits they will receive in the future.
		The employer puts an end to the plan using company lawyers.
		The employer stops contributing to the plan.
		The employees stop contributing to the plan.

In Canada, employer-sponsored pension plans are

		increasingly defined contribution.
		increasingly defined benefit.
		decreasingly defined contribution.
		staying relatively the same.

Which statement is correct?

		The plan sponsor of a defined benefit plan never needs to increase its contributions to the pension trust.
		A defined contribution plan is a pension plan that places investment risk on the employers.
		Inadequate contributions to a defined benefit plan by the plan sponsor or poor investment returns will result in an underfunded pension.
		A defined contribution plan specifies the fixed benefits that future retirees will receive.

Current service cost for a defined benefit pension plan amounted to $1,000,000. Expected income on the pension plan's assets amounted to $7,500,000, while actual income was $7,800,000. The interest on the pension obligation was $9,000,000, which matched the actuarial estimates. No past service costs arose during the year. Given this information the pension expense for the year was:

		$500,000
		$2,200,000
		$2,500,000
		$1,000,000

A deferred tax asset is the

		future tax consequence of a deductible temporary difference.
		future tax consequence of a taxable temporary difference.
		current tax consequence of a taxable temporary difference.
		current tax consequence of a deductible temporary difference.

In its 2020 income statement, its first year of operations, Penelope Corp. reported depreciation of $ 525,000 and interest revenue from a Canadian corporation of $ 105,000. For 2020 income tax purposes, Maine claimed CCA of $ 825,000. The difference in depreciation/CCA will reverse in equal amounts over the next three years. Penelope's income tax rates are 35% for 2020, 30% for 2021, and 25% for both 2022 and 2023. What amount should be included as the deferred tax liability on Penelope's December 31, 2020 SFP?

		$ 99,000
		$ 90,000
		$ 80,000
		$ 75,000