At the End of 2017, Lime Inc

question 16

Multiple Choice

At the end of 2017, Lime Inc.has determined the following adjusted information related to its defined benefit pension plan The corporation uses IFRS.Assume the net defined benefit liability/asset account at January 1, 2017 was nil.If the contribution to plan assets in 2017 is $410,000, the pension expense for 2017 is

• A)$100,000.
• B)$310,000.
• C)$410,000.
• D)$510,000.

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Definitions:

Vitamin D

A fat-soluble vitamin essential for the regulation of calcium and phosphate in the body, important for healthy bones, teeth, and muscles.

Sex Hormones

Biochemical substances produced by the endocrine system that regulate the development and function of reproductive organs and influence secondary sexual characteristics.

Epiphyseal Plate

A growth plate located at the ends of long bones, where new bone tissue is produced during childhood and adolescence.

Long Bones

Bones that are longer than they are wide, primarily consisting of a shaft and two ends, which are mostly found in the appendicular skeleton such as the femur and humerus.