Q8. Which of the following statements regarding pension accounting under U.S. GAAP standards is most accurate? A) Changes in actuarial assumptions and past service costs fully and immediately affect the income statement. B) Changes in the projected benefit obligation (PBO) and plan assets fully and immediately affect the balance sheet. C) A reconciliation between the funded status and the net pension asset (liability) reported on the balance is required.
Q9. Which of the following statements regarding the projected benefit obligation (PBO) and the value of the pension plan assets is most accurate? A) Plan amendments during the year generally result in a decrease of the PBO at the end of the year. B) The fair value of plan assets is increased by the amount of the expected return on assets. C) If the PBO and the plan assets are the same, then nothing needs to be reported on the balance sheet.
Q10. Which of the following statements regarding pension accounting under current U.S. GAAP standards and International Financial Reporting Standards (IFRS) is most accurate? A) Under IFRS and U.S. GAAP, the calculation of pension expense is the same. B) Under IFRS, the funded status (difference in the PBO and the plan assets) is now reported on the balance sheet. C) Under U.S. GAAP, firms are required to provide a reconciliation of the funded status and the reported net pension asset or liability.
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发表于 2009-1-17 14:24
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