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 $\begin{array}{lcccc}&\text { Full Accrual}&\text {Modified }&\text {Economic Resources }&\text {Current Financial }\\& \underline {\text { Basis }}& \underline {\text {Accrual Basis} } & \underline {\text { Measurement Focus} }&\text {Resources Measure- }\\&&&&\text { ment Focus }\\\text { a) } & \text { No } & \text { Yes } & \text { Yes } & \text { No } \\\text { b) } & \text { Yes } & \text { No } & \text { No } & \text { Yes } \\\text { c) } & \text { No } & \text { Yes } & \text { No } & \text { Yes } \\\text { d) } & \text { Yes } & \text { No } & \text { Yes } & \text { No }\end{array}$