Your city has been informed by the pension actuary that the proper pension contribution for the year
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Question:
Your city has been informed by the pension actuary that the proper pension contribution for the year would be $18 million. However, your city has only budgeted $15 million and so this is the amount that they pay.
What is recorded in the government-wide statements?
a. $18 million pension expense with $3 million in pension liability
b. $18 million pension expense
c. $18 million pension expenditure
d. $3 million in pension liability
e. $18 million pension expenditure with $3 million in pension liability
Related Book For
Social Statistics for a Diverse Society
ISBN: 978-1483333540
7th edition
Authors: Chava Frankfort-Nachmias, Anna Leon-Guerrero
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