20. A major difference between accounting for postretirement benefit plans and pension plans is that: a) postretirement benefit plans are not required to be funded. b) postretirement benefit plans do not need to show a liability for accumulated postretirement benefit obligation on the plan sponsor's balance sheet. c) postretirement benefit plans do not deduct the return of plan assets when funded. d) there is no accumulated postretirement benefit obligation. 17. The underfunding or overfunding of the plan at year end will be disclosed in the: a) balance sheet of the plan sponsor. b) balance sheet of the plan trustee at cost. c) income statement of the plan sponsor. d) notes to the financial statements of the plan sponsor. 11. If the projected benefit obligation (PBO) for a pension plan exceeds the fair value of the plan assets at the time of adoption of SFAS No. 87, which one of the following is created? a) Cumulative asset gain or loss b) Cumulative obligation gain or loss c) Transition asset d) Transition liability