Chapter 17, Problem 17.8BYP

(1)

To determine

Pension plan: This is the plan devised by corporations to pay the employees an income after their retirement, in the form of pension.

Other postretirement benefits: The postretirement benefits which are provided by employers, other than pensions, like medical insurance, life insurance, and legal services, and healthcare benefits, are referred to as other postretirement benefits.

To indicate: The pension plans and other postretirement benefits sponsored by Corporation F for the year 2015.

(2)

To determine

To mention: The amounts related to pension plans and postretirement plans that were reported on the 2015 balance sheet.

(3)

To determine

To mention: Whether the actuarial assumptions used in pension computations decreased or increased the PBO