Which of the Following Is True with Regard to Pension

question 128

Multiple Choice

Which of the following is true with regard to pension accounting under U.S. GAAP and IFRS?

• A) Accounting for defined-benefit pensions is typically a less important issue in the U. S. than in other parts of the world.
• B) The accounting for defined-benefit pension plans is the same under U.S. GAAP and IFRS.
• C) Prior service cost is recognized on the balance sheet under both U.S. GAAP and IFRS.
• D) Prior service cost is amortized into income over the expected service lives of employees under both U.S. GAAP and IFRS.

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Civil Rights Act of 1964

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