Defining Pension Terminology Terms relating to concepts discussed this chapter along with descriptions of the terms are included in the following two lists. Match each term 1 and 14, with the most appropriate description a through n. n 8 a b Projected benefit obligation 2. Expected return on plan assets . 3. Amortization of gains and losses 4. Pension plan assets S. Pension expense 6. Fair value of plan assets) 7. Amortization of prior service costs Net pension asset *9. Accumulated benefit obligation 10. Interest cost 1. Discount rate X12. Service Cost *13. Vested benefit obligation *14. Actual return on plan assets ch 1 a. Amount reported as total pension expense for the period; has five components. b. Allocation of the cost of retroactive pension benefits to periodic expense. c. Actuarial present value of all future pension benefits at the measurement date excluding the effects of expected future compensation levels d. Cost of future pension benefits earned during the current accounting period. e. The interest rate used to compute the present value of future pension benefits earned by employees Present value of the employee's benefits at the measurement date not contingent on future employee ser MacBook Pro 7 8 9 0 del Y U 1 o P *14. Actual return on plan assets a. Amount reported as total pension expense for the period, has five components. b. Allocation of the cost of retroactive pension benefits to periodic expense. c. Actuarial present value of all future Pension benefits at the measurement date excluding the effects of expected future compensation levels. d. Cost of future pension benefits earned during the current accounting period. e. The interest rate used to compute the present value of future pension benefits earned by employees. f. Present value of the employee's benefits at the measurement date not contingent on future employee service, g. Allocation of the difference between expected return and actual return on plan assets and changes in actuarial assumptions to periodic expense. h. Cumulative fund assets in excess of the PBO. 1. Difference between plan assets at fair value at the beginning and end of the period minus contributions and plus distributions during the accounting period. ). The value of plan assets between a willing buyer and a willing seller (not a forced sale). k. Actuarial present value of future pension benefits earned as of the measurement date, including the effects of current and future compensation levels. 1. Projected benefit obligation at the beginning of the current accounting period multiplied by the discount rate. m. Resources set aside to provide future pension benefits to retirees n. Beginning market-related value of pension plan assets multiplied by the expected rate of return. Try another question like this one Next