Question: Define temporary differences, future taxable amounts, and future deductible amounts. Pension accounting terminology. Briefly explain the following terms: (a) Service cost (b) Interest cost (c)

Define temporary differences, future taxable amounts, and future deductible amounts.

Pension accounting terminology.

Briefly explain the following terms:

(a) Service cost

(b) Interest cost

(c) Prior service cost

(d) Vested benefits

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