Select from the option list provided the corresponding term for each of the following definitions relating to
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Question:
Select from the option list provided the corresponding term for each of the following definitions relating to a defined benefit pension plan. Each choice may be used once, more than once, or not at all.
Definition | Term |
1. The present value of the future benefits earned by the employees in the current period. | |
2. Arising from changes in the amount of the PBO or plan assets that result from experience different from that expected and from changes in assumptions. | |
3. Based on the fair value of the plan assets at the beginning and end of the accounting period adjusted for contributions and payments during the period. | |
4. The increase in the projected benefit obligation (PBO) determined by multiplying the PBO at the beginning of the year by the current discount rate. | |
5. The actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee services rendered prior to that date. Considers future compensation. |
List of possible options:
Related Book For
Fundamentals of Advanced Accounting
ISBN: 978-0077862237
6th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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