Which of the Following Is False Regarding the Accounting for Pensions

question 93

Multiple Choice

Which of the following is false regarding the accounting for pensions under IFRS and U.S. GAAP?

• A) Prior service cost is recognized on the balance sheet under U.S. GAAP only.
• B) Under U.S. GAAP companies must amortize actuarial gains and losses over the expected service lives of employees.
• C) Prior service cost is amortized into income over the expected service lives of employees under U.S. GAAP only.
• D) Under IFRS companies may recognize actuarial gains and losses in income immediately.

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Definitions:

Monoamine Oxidase A

Monoamine oxidase A (MAO-A) is an enzyme responsible for breaking down neurotransmitters such as serotonin, dopamine, and norepinephrine, influencing mood and behavior.

Warrior Gene

A colloquial term for the monoamine oxidase A (MAOA) gene, sometimes linked to aggression due to its role in regulating neurotransmitters.

Dopamine and Serotonin

Both are neurotransmitters in the brain that influence various bodily functions. Dopamine is associated with pleasure and reward, while serotonin is linked to mood stabilization, feelings of well-being, and happiness.

Air Temperatures

A measure of how hot or cold the atmosphere is, typically expressed in degrees Celsius or Fahrenheit.