In all pension plans, the accounting problems include all the following except
a. measuring the amount of pension obligation.
b. disclosing the status and effects of the plan in the financial statements.
c. allocating the cost of the plan to the proper periods.
d. determining the level of individual premiums.
Answer: determining the level of individual premiums
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Accounting Chapter 20
- Which of the following statements is true about postretirement health care benefits?
- The main purpose of the Pension Benefit Guaranty Corporation is to
- Which of the following disclosures of pension plan information would not normally be required?
- According to the FASB, recognition of a liability is required when the projected benefit obligation exceeds the fair value of plan assets. Conversely, when the fair value of plan assets exceeds the projected benefit obligation, the Board
- Which of the following is true of pension termination?
- A pension asset is reported when
- A pension liability is reported when
- A pension fund gain or loss that is caused by a plant closing should be
- The fair value of pension plan assets is used to determine the corridor and to calculate the expected return on plan assets.
- Gains and losses that relate to the computation of pension expense should be
- The actuarial gains or losses that result from changes in the projected benefit obligation are called
- Whenever a defined-benefit plan is amended and credit is given to employees for years of service provided before the date of amendment
- Prior service cost is amortized on a
- When a company amends a pension plan, for accounting purposes, prior service costs should be
- When a company adopts a pension plan, prior service costs should be charged to
- A corporation has a defined-benefit plan. A pension liability will result at the end of the year if the
- Which of the following items should be included in pension expense calculated by an employer who sponsors a defined-benefit pension plan for its employees?
- In accounting for a pension plan, any difference between the pension cost charged to expense and the payments into the fund should be reported as
- The actual return on plan assets
- One component of pension expense is actual return on plan assets. Plan assets include
- The interest on the projected benefit obligation component of pension expense
- In computing the service cost component of pension expense, the FASB concluded that
- The computation of pension expense includes all the following except
- The relationship between the amount funded and the amount reported for pension expense is as follows:
- Vested benefits
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