In pension accounting, actuarial gains and losAses are (a) Added to pension obligation directly (b) Always recognized immediately in profit or loss (c) Deferred indefinitely (d) Recognized in other comprehensive income

In pension accounting, actuarial gains and losAses are (a) Added to pension obligation directly (b) Always recognized immediately in profit or loss (c) Deferred indefinitely (d) Recognized in other comprehensive income

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 7MC: Which of the following is not a component of pension expense? a. amount funded b. service cost c....

See similar textbooks

Related questions

Q: i need this question answer General accounting question

A: Step 1: Define Amortization systematically allocates the cost of an intangible asset over its useful…

Q: Hi expert please give me answer general accounting question

A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) represents the cash…

Q: Please solve this general accounting question

A: Step 1: Define Pension LiabilityThe pension liability reported on the balance sheet is the…

Q: Solve this general accounting problem without use ai

A: Step 1: Define Direct Materials Price VarianceThe Direct Materials Price Variance measures the…

Q: Under absorption costing the ending inventory for the year would be valued at

A: Explanation of Variable Manufacturing Overhead:Variable manufacturing overhead consists of…

Q: Don't use ai given answer accounting questions

A: Step 1: Definition of Return on Total Assets (ROA)Return on Total Assets (ROA) is a financial metric…

Q: Don't use ai given answer accounting questions

A: Step 1: Calculation of increase to retained earningsNet income = Service revenue - Operating…

Q: 5 PTS

A: Explanation of Book Value: Book value represents the original cost of an asset minus accumulated…

Q: Bloom Enterprises has fixed costs of $825,400. The selling price per unit is $210, and the variable…

A: Calculate the Contribution Margin per UnitThe contribution margin is the amount each unit…

Q: provide general accounting

A: Step 1: Definition of Work-in-Process InventoryWork-in-process (WIP) inventory refers to partially…

Q: What if the countries of the world adopted one currency? From the perspective of a businessperson,…

A: One world currency refers to a hypothetical scenario where all the countries in the world abandon…

Q: Need help

A: Explanation of Direct Costing:Direct costing, also known as variable costing, is a method where only…

Q: Give me ans

A: Question 1: Step 1. Calculate the Warranty expense for the current month Warranty expense for the…

Q: Need Step by step answer

A: Approach to solving the question:Freeform Detailed explanation: 1. Identify the Original PriceThe…

Q: general accounting

A: Step 1:The cost of goods manufactured can be calculated by adding the work in process beginning to…

Q: None

A: Concept of AssetsAssets refer to the economic resources owned by a business that provide future…

Q: Financial Accounting

A: Step 1: Define Return on Equity (ROE)The Return on Equity (ROE) is a financial ratio that measures…

Q: Apex's predetermined overhead rate is?

A: Explanation of Predetermined Overhead Rate: The predetermined overhead rate is a calculated…

Q: hello teacher please solve questions

A: Step 1. Determine the Required Before-Tax ProfitThe company desires an after-tax net income of…

Q: If the contribution margin ratio for Vera Company is 28%, sales were $1,135,000, and fixed costs…

A: Step 1: Find the contribution margin.= sales x contribution margin ratio= $1,135,000 x 28%= $317,800…

Q: What is the accounts receivable balance on November 30 2023 of this general accounting question?

A: Step 1: Define Accounts Receivable BalanceThe Accounts Receivable Balance represents the total…

Q: MCQ

A: Explanation of Make or Buy Decision: This is a strategic choice that companies face when deciding…

Q: Need answer

A: Step 1: Formula Net income/(Net loss) = Revenue - ExpensesNet income/(Net loss) = Revenue -…

Q: sub. general account

A: Step 1: Definition of Return on Equity (ROE)Return on equity (ROE) is a financial ratio that…

Q: 4 POINTS

A: Explanation of Variable Costs: Variable costs are expenses that change in proportion to the…

Q: Need answer

A: Explanation of Retained Earnings:Retained earnings represent the accumulated profits that a company…

Q: Can you please solve this

A: The question requires the determination of the preferred stockholder's dividend and common…

Q: Abc

A: Step 1: Definition of Break-Even Sales and Target SalesBreak-even sales represent the number of…

Q: What is its net income?

A: Explanation of Net Income:Net income is the final profit a company earns after deducting all…

Q: There is sufficient capacity to fill the order

A: The answer is (d) $3.45. Given:Variable costs for 60,000 units= $108,000Fixed costs for 60,000…

Q: What is the absorption costing net operating income for last year on these general accounting…

A: Absorption Costing Net Operating Income = Variable Costing Net Operating Income + Fixed…

Q: L.L. Bean operates two factories that produce its popular Bean boots (also known as "duck boots") in…

A: Part 2: Explanation (Detailed Analysis)2014 Data:• Sales: 450,000 pairs• Peak Backorder: 100,000…

Q: Subject = General Account

A: Step 1: Definition of Adjusted BasisThe adjusted basis refers to the original cost of an asset,…

Q: What is the direct labor rate variance

A: Concept of Direct Labor Rate VarianceDirect Labor Rate Variance measures the difference between the…

Q: 4 MCQ

Q: Daughdrill Corporation is developing direct labor standards. The basic direct labor wage rate is…

A: To calculate the standard rate per direct labor hour, we need to consider three components:Basic…

Q: general accounting answer

A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) measures a company's financial…

Q: What is the adjustment amount to accrue interest on these financial accounting question?

A: Step 1: Define Accrued InterestAccrued Interest refers to the interest that has been earned or…

Q: Round to the nearest meal

A: Number of Meals=Fixed Costs+Operating Income/Price per Meal−Variable Cost per MealInitial…

Q: Financial Accounting

A: Concept of Accrual AccountingAccrual accounting is a method of recording financial transactions when…

Q: None

A: Step 1: Definition of Gross Margin RatioThe Gross Margin Ratio measures the percentage of sales…

Q: please help with how to solve this thank you

Q: Provide answer general accounting

A: Step 1: Definition of High-Low MethodThe High-Low Method is a cost estimation technique used to…

Q: abc general accounting

A: Step 1: Definition of Sales for a Target ProfitSales for a target profit refer to the total revenue…

Q: Following are selected income statement data from acer and dyson

A: Explanation of Income Statement: The income statement is a financial report that shows a company's…

Q: provide correct answer general accounting

A: Step 1: Definition of Standard CostingStandard costing involves estimating costs for all the…

Q: The company where Daniel works produces skateboards locally but sells them globally for $60 each.…

A: Step 1:Price Variance:The price variance shows the difference between the actual price paid and the…

Q: Determine the total manufacturing costs incurred during the financial year 2022

A: Explanation of Total Manufacturing Costs:Total manufacturing costs represent the total expenses…

Q: Stockholders's equity

A: ImageExplanation.To determine the market value of stockholders' equity, we start by calculating the…

Q: General Accounting

A: Step 1:First, calculate the interest cost: Interest cost = Defined benefit obligation Jan 1 *…

Question

4 PTS

In pension accounting, actuarial gains and losAses are
(a) Added to pension obligation directly
(b) Always recognized immediately in profit or loss
(c) Deferred indefinitely
(d) Recognized in other comprehensive income

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Help
MCQ
Accurate answer
Under IFRS, any difference between the pension expense and the payments into the pension fund plan assets should be reflected in Select one: a. a contra account to the net defined benefit liability/asset. b. an accrued actuarial liability. c. the net pension liability/asset. d. a note to the financial statements only. e. None of the above.
1. When an entity amends a pension plan, past service cost should be Recorded in other comprehensive income. Expensed in the period the plan is amended. Amortized over the service period of the employees Treated as prior period error.
Describe how pension expense is a composite of periodic changes that occur in both the pension obligation and the plan assets.
look over the three most important components of the pension expense. The treatment of expected and actual return on plan assets, particularly when the actual return is greater than the expected, the amortization of prior service cost and the unexpected gain/ loss. Discuss the accounting treatment of these items with suitable examples.
Describe the Components of Pension Expense.
pension liability is reported when the projected benefit obligation exceeds the fair value of pension plan assets Ⓒthe accumulated benefit obligation is less than the fair value of pension plan assets. the pension expense reported for the period is greater than the funding amount for the same period accumulated other comprehensive income exceeds the fair value of pension plan assets
Explain how cash-basis accounting for pension plans differsfrom accrual-basis accounting for pension plans.Why is cash-basis accounting generally considered unacceptablefor pension plan accounting?
Which are the components that are included in the pension expense?
What are the four basic components of pension expense? Select one: A. Service cost, benefits paid, expected return on plan assets, and amortization of deferred amounts B. Service cost, benefits paid, actual return on plan assets, and amortization of deferred amounts C. Service cost, interest cost, actual return on plan assets, and amortization of deferred amounts D. Service cost,interest cost, expected return on plan assets, and amortization of deferred amounts E. None of the above