The Liabilities Related to Benefits and Refunds of a Defined

question 47

Short Answer

The liabilities related to benefits and refunds of a defined benefit pension plan are reported in a government's fiduciary fund financial statements using the $\begin{array}{lcccc}&\text { Full Accrual}&\text {Modified }&\text {Economic Resources }&\text {Current Financial }\\& \underline {\text { Basis }}& \underline {\text {Accrual Basis} } & \underline {\text { Measurement Focus} }&\text {Resources Measure- }\\&&&&\text { ment Focus }\\\text { a) } & \text { No } & \text { Yes } & \text { Yes } & \text { No } \\\text { b) } & \text { Yes } & \text { No } & \text { No } & \text { Yes } \\\text { c) } & \text { No } & \text { Yes } & \text { No } & \text { Yes } \\\text { d) } & \text { Yes } & \text { No } & \text { Yes } & \text { No }\end{array}$

---

Definitions:

Retention

The ability to keep or hold onto information or knowledge over time.

Recognition

The ability to identify previously encountered items, events, or people, demonstrating memory of those items, events, or people.

Sensory Registers

Memory stores that briefly hold sensory information from the environment, such as sights and sounds, before it is processed further or forgotten.

Auditory and Visual

Pertaining to the senses of hearing and sight, often in the context of learning or perception.