Premier Sports Inc Has a Beginning PBO Balance of $628,000

question 91

Multiple Choice

Premier Sports Inc has a beginning PBO balance of $628,000 and a beginning market-related value of plan assets of $560,000. The net actuarial gain at the beginning of the period is $87,500 and the average employee base has a remaining service life of 20 years. What is the required amortization of actuarial gains or losses for the current year?

• A) $1,235
• B) $3,140
• C) $4,375
• D) $24,700

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Definitions:

IQ Score

A numerical representation derived from standardized tests designed to measure human intelligence and cognitive abilities in relation to an age group.

Mental Retardation

An outdated and now considered offensive term for intellectual disability, characterized by limitations in intellectual functioning and adaptive behavior.

Adaptive Behavior

Describes an individual's ability to modify their actions, thoughts, or emotions to meet environmental demands or challenges.

Limited Mental Ability

A condition characterized by lower-than-average cognitive functioning and deficits in adaptive behaviors.