A pension plan is underfunded when the employer's obligation (PBO) exceeds the resources available to satisfy that

Question:

A pension plan is underfunded when the employer's obligation (PBO) exceeds the resources available to satisfy that obligation (plan assets) and overfunded when the opposite is the case. How is this funded status reported on the if plan assets exceed the PBO? If the PBO exceeds plan assets?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...