According to the FASB, recognition of a liability is required when the projected benefit obligation exceeds the
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Question:
According to the FASB, recognition of a liability is required when the projected benefit obligation exceeds the fair value of plan assets. Conversely, when the fair value of plan assets exceeds the projected benefit obligation, the FASB ________.
requires recognition of an asset |
requires recognition of an asset if the excess fair value of plan assets exceeds the corridor amount |
recommends recognition of an asset but does not require such recognition |
does not permit recognition of an asset |
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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