Determine the types of pension plan, Financial Accounting

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Determine the types of pension plan

Response to the following problem in detail:

Lamont Corporation has a pension plan in which the corporation makes all contributions and employees receive benefits at retirement based on the balance in their accumulated pension fund. What type of pension plan does Lamont have?

If possible, please give examples to better understand your response.

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Financial Accounting: Determine the types of pension plan

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Financial Accounting: Determine the types of pension plan

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