A Company Has a Defined Benefit Pension Asset of $1,300,000

question 2

Multiple Choice

A company has a defined benefit pension asset of $1,300,000 at the beginning of the year. The company contributes $4,000,000 to the pension during the year and records a pension expense of $6,200,000. The closing balance of the defined benefit pension plan at year-end is therefore a:

• A)$900,000 asset
• B)$900,000 liability
• C)$5,300,000 asset
• D)$3,500,000 asset

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