Question: In a recent years financial statements, Procter & Gamble (PG) showed an unfunded pension liability of $5,955 million and a periodic pension cost of $432

In a recent year’s financial statements, Procter & Gamble (PG) showed an unfunded pension liability of $5,955 million and a periodic pension cost of $432 million. Explain the meaning of the $5,955 million unfunded pension liability and the $432 million periodic pension cost.

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