A City Does Not Choose to Advance Fund Its OPEB

question 30

Multiple Choice

A city does not choose to advance fund its OPEB plan but instead will continue to pay these postretirement benefits as they come due. The current year's benefit payments total $2,500. The total OPEB liability increased from $14,000 to $16,500 during the year. The General Fund would recognize an expenditure of

• A) $0.
• B) $2,500.
• C) $14,000.
• D) $16,500.

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Definitions:

Marketing Strategy

A firm’s target market, marketing mix, and method of obtaining a sustainable competitive advantage.

Vision

A forward-looking statement or concept that outlines what an organization aspires to achieve in the future, guiding its strategic decisions and direction.

Product's Price

The monetary value assigned to a product by a company, reflecting costs, market demand, and competitive pricing, which consumers are expected to pay to acquire it.

Value

Reflects the relationship of benefits to costs, or what the consumer gets for what he or she gives.