Consider the following three statements and decide whether they are true or false: I. Defined contribution plans specify the amount that the employer puts into the plan for the benefit of the employee. II. Most of the factors used to determine specific expense accruals for defined benefit pension plans are based upon actuarial assumptions and present values. III. A defined benefit pension plan can subject a company to significant potential liability.

Select one:

a. All of them are false.

b. Two of them are false.

c. One of them is false.

d. All of them are true.