Examlex
Which of the following is the appropriate general journal entry to record the declaration of cash dividends?
Projected Benefit Obligation
The present value of a retirement plan's benefits owed to employees, calculated based on estimated salary increases.
Plan Assets
Investments and other assets set aside by an employer to fund pension benefits or other retirement plans for its employees.
Projected Benefit Obligation
An actuarial estimate of the total value of future pension benefits owed to employees, based on their service and salary history, to be paid by a pension plan.
Pension Plan Assets
The resources set aside by a company to meet future pension obligations to retirees, usually in the form of investments.
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