The Major Difference Between Accounting for Pensions and the Accounting

question 67

Multiple Choice

The major difference between accounting for pensions and the accounting for other postretirement benefits is that firms:

• A) do not need to report an excess of the accumulated benefits obligations over assets in a postretirement benefits fund as a liability on the balance sheet.
• B) do not need to disclose any estimates used in calculating projected benefits.
• C) postretirement benefits are normally not material for most companies and do not need to be disclosed.
• D) do not need to set aside funds for future postretirement benefits as they do for pension benefits.

Describe the physical and sensory changes that occur with aging.

Evaluate the role of genetics in aging and diseases such as Alzheimer's.

Understand the changes in sexual satisfaction and reproductive capacity that occur with aging.

Recognize age-related physical changes, including those affecting vision and hearing.

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Definitions:

Government Securities

Financial instruments issued by a government to raise funds from investors, promising to pay back with interest, including treasury bonds, bills, and notes considered low-risk investments.

Federal Reserve Board

The governing body of the Federal Reserve System, responsible for overseeing the U.S. central banking system.

Government Securities

Financial instruments issued by a government to raise funds from the public, including bonds and treasury bills, with a promise to pay back with interest.

Securities

Assets that denote a share in the equity of a corporation available on the public market (stock), a lending agreement with a government or corporate body (bond), or ownership claims evidenced by an option.