Question text Under IFRS, which of the following statements is true regarding accounting for defined benefit pension plan settlements? Select one: a. Settlements increase the plan assets b. The difference between the change in the DBO and the change in the plan assets as a result of the plan settlement is recognized as a gain or loss. с. Settlements increase the defined benefit obligation (DBO). d. Any gain or loss on a plan settlement is presented as part of other comprehensive income

Annual additions to qualified retirement plans include interest and dividend income. forfeitures reallocated to plan participants. employee contributions. employer contributions.     A) I, II, and III     B) II, III, and IV     C) I, II, III, and IV     D) II and IV

How is the pension expense influenced by changes in the pension liability and plan assets?

Any past service costs should be included in the a) pension expense of past periods. b) pension expense of the current period. c) pension expense of current and future periods. d) plan assets.

33. In a defined-benefit plan, the process of funding refers to determining the projected benefit obligation. determining the amount that might be reported for pension expense. determining the accumulated benefit obligation. making the periodic contributions to a funding agency to ensure that funds are available to meet retirees' claims.

A company that sponsors a defined benefit plan records an entry to debit OCI-Pension Gain/Loss for $5,000 and credit Plan Assets. The company uses the corridor approach to amortize Accumulated OCI-Pension Gain/Loss. This entry indicates that Select one: O a. The expected return on plan assets exceeded actual return on plan assets. O b. The actual return on plan assets exceeded the expected return on plan assets. O c. The beginning balance in Accumulated OCI-Pension Gain/Loss exceeded the corridor. O d. The beginning balance in Accumulated OCI-Pension Gain/Loss did not exceed the corridor. e. a and c f. b and d OO

Question text In determining the present value of the prospective benefits (often referred to as the defined benefit obligation), the following are considered by the actuary: Select one: а. retirement and mortality rate. b. benefit provisions of the plan. c. all of these factors d. interest rates.

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