Question: QUESTION 1 (10 Marks) Explain the following terms. Include the definition, how they are calculated, treated in the accounting records (general ledger) and shown in

QUESTION 1 (10 Marks)

Explain the following terms. Include the definition, how they are calculated, treated in the accounting records (general ledger) and shown in the financial statements.

Defined Benefit Obligation (2 marks)
Plan Assets (2 marks)
Pension Asset/Liability (2 marks)
Pension Expense (2 marks)
Other Comprehensive Income (OCI) gain/loss (2 marks)

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