Which of the Following Disclosures of Pension Plan Information Would

question 12

Multiple Choice

Which of the following disclosures of pension plan information would not normally be required?

• A) The major components of pension expense
• B) The amount of prior service cost changed or credited in previous years.
• C) The funded status of the plan and the amounts recognized in the financial statements
• D) The rates used in measuring the benefit amounts

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Definitions:

Ratification Manifest

The overt expression or demonstration of approval or confirmation of an act or agreement, often legally required for ratification.

Material Facts

Information that could influence the decision-making process of a person or entity, considered significant in the context of legal and financial transactions.

Apparent Authority

A legal doctrine allowing a third party to rely on the representation of an agent that they have the authority to act on behalf of a principal, even if the agent lacks actual authority.

Actual Authority

The explicit power granted by a principal to an agent to conduct specific transactions or activities on the principal's behalf.