Amortizing a net loss-AOCI for pensions will have the following impact on the components shareholders' equity: increase retained earnings and decrease total AOCI in the balance sheet.
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- Payment of retirement benefits: A. Increases the PBO. B. Increases the ABO. C. Reduces the GBO. D. Reduces the PBOThe process of reinvesting interest earned to generate additional earnings over time is ________. A. compounding B. discounting C. annuity D. lump-sumWhich of the following decreases owners equity? A. investments by owners B. losses C. gains D. short-term loans
- An increase in OCI related to plan assets occurs when: Select one: a. The accumulated benefit obligation is more than expected. b. The vested benefit obligation is less than expected. c. Retiree benefits paid out are less than expected. d. The return on plan assets is higher than expected. e. The employer contributes an amount greater than it was liable to do.1. What is the actual return on pension plan assets? 2. What is the amount of actuarial gain or loss that will be taken to other comprehensive income? if gain positive amount, if loss negative amount Example: gain --> 1,000 loss --> (1,000)Gains and losses can occur with pension plans when: A) Either the PBO or the return on plan assets turns out to be different than expected. B) Either the ABO or the return on plan assets turns out to be different than expected. C) Either the PBO, the ABO, or the return on plan assets turns out to be different than expected. D) Either the PBO or the ABO turns out to be different than expected.
- In the world of pension accounting, how does a "asset gain or loss" develop? In the world of pension accounting, how does a "liability gain or loss" manifest?1. The interest cost component of the net defined benefit cost is determined using a. the settlement rate of interest. b. the rate of return on high quality corporate bonds c. both a and b. d. neither a or b. 2. Financial reporting standards for pension currently in effect a. allow both the accrued benefit and projected benefit methods. b. allow only the accrued benefit method/ projected unit credit method. c. allow only the projected benefit method. d. do not allow either the accrued benefit or projected benefit methods. 3. Which of the following is not correct? a. PAS 19 does not include any provisions for the recognition of an additional minimum liability. b. PAS 19 does not allow for the recognition of a net pension asset equal to the computed surplus in some circumstances. c. PAS 19 requires the 10% corridor amount in calculating the amortization of deferred gains and losses. d. PAS 19 requires settlement gains and…A statement of comprehensive income for a company with a defined benefit pension plan does not include a. net income. b. the return on plan assets. c. gains from the return on assets exceeding expectations. d. losses from changes in estimates regarding the pension obligation.
- Which of the following is true about plan assets? Any excess return on plan assets are earned to the benefit of the company Includes qualifying insurance policies None of the statements are correct These are assets held for short-term purpose in the event of employee retirement during the yearHow much is the net free assets? How much is the estimated deficiency to unsecured creditors? What is the estimated recovery percentage of unsecured non-priority creditors?D. The choices are overestimate the pension assets return overestimated the pension liability underestimate the pension assets return underestimated the pension liability