16.. Which of the following is not a characteristic of a defined-contribution pension plan? a. The employer's contribution each period is based on a formula. b. The benefits to be received by employees are determined by an employee's highest compensation level defined by the terms of the plan. C. The accounting for a defined-contribution plan is straightforward and uncomplicated. d. The benefit of gain or the risk of loss from the assets contributed to the pension fund is borne by the employee -5- 17.. Whenever a defined-benefit plan is amended and credit is given to employees for years of service provided before the date of amendment a. both the accumulated benefit obligation and the projected benefit obligation are usually greater than before. b. both the accumulated benefit obligation and the projected benefit obligation are usually less than before. C. the expense and the liability should be recognized at the time of the plan change. d. the expense should be recognized immediately, but the liability may be deferred until a reasonable basis for its determination has been identified