GASB Standards Provide Comprehensive Guidance on Pension Accounting and Financial

question 26

True/False

GASB standards provide comprehensive guidance on pension accounting and financial reporting for defined benefit pension plan employers, but the FASB provides guidance for plan sponsors.

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Definitions:

Pension Benefit Guarantee Corporation

A federal agency that protects the retirement incomes of American workers in private-sector defined benefit pension plans.

T-statistic

A value derived from the t-test, used to determine if there is a significant difference between the means of two groups being compared.

Z-score

A statistical measurement of a score's relationship to the mean in a group of scores.

Sampling Distribution

A distribution of probabilities associated with a particular statistic, originating from a random sample.