Under the Simplified Approach to Accounting for Defined Benefit Pension

question 31

True/False

Under the simplified approach to accounting for defined benefit pension plans under ASPE, the actuarial cost method used for pension accounting will be different than that used for funding.

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Definitions:

Mayor

The elected head of a city, town, or other municipality.

Capitalization

The practice of writing certain words or letters in uppercase for emphasis or to adhere to grammatical rules.

Superior

Someone or something that is higher in rank, status, or quality compared to others.

Lakes

Large, naturally occurring bodies of fresh or saltwater, surrounded by land, not part of the ocean.