Susan worked 30 years for the city and is 64 years of age. Her total % Value Per Plan (TVPP) is 49.50%. Her five highest fiscal year salaries are as follows: $85,000

87,590

95,890

99,569

103,899

Based on the above information, what is the total monthly benefit Susan will receive from her pension?

Question 1 Select one:

a. $4,672.29

b. $9,438.96

c. $2,158.58

d. $3,893.57

What is the difference between a budget projection and a budget estimate? Question 2 Select one:

a. A budget projection is more concrete whereas a budget estimate is based on projected revenue, which are unknown.

b. A budget estimate is more concrete whereas a budget projection is based on projected revenue, which are unknown.

c. A budget estimate is provided at the beginning of the year whereas a budget projection is used when reviewing a 5-year plan of future projections.

d. There is no difference.

Which of the following is the fundamental equation of accounting? Question 3 Select one:

a. Assets + Liabilities = Net Assets

b. Assets = Projected revenue liabilities

c. Liabilities = Assets + Net Assets

d. Assets = Liabilities + Net Assets

All organizations that follow GAAP produce which of the following basic financial statement(s)? Question 4 Select one:

a. Balance Sheet

b. Income Statement

c. Cash Flow Statement

d. A & B e. A, B, & C