At the End of the Current Year, Churchill Industries Has

question 34

Multiple Choice

At the end of the current year, Churchill Industries has a defined obligation of £433,000 and pension plan assets with a fair value of £265,000.The amount of the vested benefits for the plan is £225,000.Churchill has an accumulated actuarial gain of £12,900.What account and amountrelated to its pension plan will be reported on the company's statement of financial position?

• A)Pension asset of £168,000
• B)Pension liability of £109,100
• C)Pension liability of £134,900
• D)Pension asset of £115,900

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