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million to a defined benefit pension plan for city employees. The actuarially determined contribution requirement for 2013 is $65 million. The amount of pension expenditure recognized by the general fund for 2013 should be: A.) $ 0

million to a defined benefit pension plan for city employees. The actuarially determined contribution requirement for 2013 is $65 million. The amount of pension expenditure recognized by the general fund for 2013 should be: A.) $ 0

FINANCIAL ACCOUNTING
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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During the fiscal year ended December 31, 2013, Glen City’s general fund contributed $60 million to a defined benefit pension plan for city employees. The actuarially determined contribution requirement for 2013 is $65 million. The amount of pension expenditure recognized by the general fund for 2013 should be:

A.) $ 0

B.) $ 60 million

C.) $ 63 million

D.) $ 65 million

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