The following facts apply to the pension plan of Ivanhoe Inc. for the year 2023. Ivanhoe applies ASPE. Plan assets, January 1, 2023 Defined benefit obligation, funding basis, January 1, 2023 Defined benefit obligation, accounting basis, January 1, 2023 Discount/interest rate Annual pension service cost Contributions Actual return on plan assets Benefits paid to retirees $520,000 419,000 520,000 9% 40,400 31,100 53,300 33,800

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization shou…