In a recent years financial statements, Procter & Gamble showed an unfunded pension liability of $5,599 million

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In a recent year’s financial statements, Procter & Gamble showed an unfunded pension liability of $5,599 million and a periodic pension cost of $434 million.
Explain the meaning of the $5,599 million unfunded pension liability and the $434 million periodic pension cost.

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Accounting

ISBN: 978-1285743615

26th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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