Which of the Following Is Not a Step in Reporting

question 30

Multiple Choice

Which of the following is not a step in reporting a pension liability?

• A) The pension benefit payments that will ultimately be required are estimated by an actuary.
• B) The portion of those payments that are attributable to past periods of employee service is calculated.
• C) The present value of amounts attributable to past periods of employee service is determined in order to arrive at the government's obligation at the present time.
• D) Excess liability balance is shown in the government-wide financial statements as a net pension asset.
• E) Excess liability balance is shown in the government-wide financial statements as a net pension liability.

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Definitions:

Culture Existence

The fact that various cultures exist, each with their own norms, values, beliefs, and practices that differentiate them from others.

Shared

Owned, used, or experienced collectively by a group of people, suggesting collaboration or joint ownership.

Behaviors

The observable actions or responses of individuals, influenced by their environment, culture, and psychological aspects.

Empathizing Skill

The capacity to understand and share the feelings or thoughts of another person, promoting better interpersonal relations.