What Four Accounts Are Affected by the Accounting for a Defined

question 55

Multiple Choice

What four accounts are affected by the accounting for a defined benefit pension plan?

• A)Cash, pension expense, OCI, and the defined benefit asset or liability.
• B)Expected gains and losses, cash, income, pension expense.
• C)Pension liability, pension expense, cash, income.
• D)Pension expense, pension assets, pension liability, cash.

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Definitions:

Silver

A precious metal with high conductivity and reflectivity, used in currency, jewelry, and numerous industrial applications.

Troy Oz.

A unit of measure for weight that is traditionally used for precious metals. One troy ounce is approximately 31.1035 grams.

Put Option Contracts

Financial contracts allowing the holder to sell an asset at a specified price within a fixed time period.

Lbs

An abbreviation for pounds, a unit of weight commonly used in the United States and the British imperial system; not directly a financial term unless related to commodities trading.