River City has a defined contribution pension plan. How should River report the pension plan in it financial statements?
a) Amortize any transition asset over the estimated number of years of current employees service
b) Disclose in the notes to the financial statements the amount of the pension benefit obligation and the net assets available for benefits
c) Disclose in the notes to the financial statements amounts attributed to employee service and forfeitures in the current period
d) Accrue a liability for benefits earned buy not paid to fund participants
Answer: C
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