The following statements relate to accounting for retirement benefits under the provisions of IAS 19, Employee Benefits. [The 'net pension asset' is the fair value of plan assets less the present value of plan liabilities.]
(i) Other things being equal, the net pension asset increases when interest rates increase.
(ii) Other things being equal, the net pension asset decreases when share prices fall.
(iii) Where the terms of retirement benefits are altered so as to provide immediate additional benefits to retired members, then the cost of the additional benefits should be recognized in the income statement over a period equal to the average life expectancy of the retired members.
Which of the statements are true?
A: (i) and (ii) only
B: (i) and (iii) only
C: (ii) and (iii) only
D: All of them