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b. 5. A major difference between defined benefit pension plans and defined contribution pension plans is that a. Accounting for defined benefit plans is much simpler than accounting for defines contribution plan b. In a defined contribution plan, the risk of loss is borne primarily by the employee c. Employees generally are required to contribute to defined contribution plans but not to defined benefit plans d. There is no major difference between the two kinds of pension plans 6. The following relate to the town of Coupland (dollar amounts in thousands): Equipment used in a vehicle repair service that provides service to other departments on a cost-reimbursement basis; the equipment has a 5-year life with no salvage value $1,400 Property taxes levied and collected $6,300 Hotel taxes (restricted to promotion of tourism) collected $1,200 Proceeds of bonds to build a parking garage that must be repaid from user charges $4,000 . . Using the information above to answer the following questions: Revenue to be recognized in internal service und? a 0 b. $1,400 c. $140 d. None of Above 7. The following transactions were among those reported by Corfe City's electric utility enterprise fund for Year 1: Cash paid to supplier $ 900,000 Cash received from customer households 2,700,000 Proceeds from the sale of revenue bonds 4,500,000 In the electric utility enterprise fund's statement of cash flows for the year ended December 31, Year 1, what amount should be reported as cash flows from capital and related financing activities? a. $4,500,000 b. $5,400,000 c

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