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

Past service cost is the change in the defined benefit obligation for employee service in prior…

Answered: any past service costs should be…

any past service costs should be included in ne ) pension expense of past periods. -) pension expense of the current period. O pension expense of current and future eriods. 1) plan assets.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Employee Benefits

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 should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.

Question

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.

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