Question: With regard to current GASB standards for pension reporting, do the following: a .Distinguish between (1) defined contribution plans and (2) defined benefit plans. b

With regard to current GASB standards for pension reporting, do the following:

a.Distinguish between (1) defined contribution plans and (2) defined benefit plans.

b.Distinguish between (1) agent and (2) cost-sharing multiemployer plans.

c.Define the following terms: (1) plan fiduciary net position and (2) net pension liability.

d.Distinguish between reporting for employers for (1) general government employees and for (2) enterprise fund employees.

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