Public Employee Retirement Systems Should Label the Difference Between Assets

question 16

True/False

Public employee retirement systems should label the difference between assets and liabilities on the statement of plan net position as "fund balance available for member benefits."

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Definitions:

Waste Products

Materials that are not wanted or are surplus after the completion of a process or during bodily functions.

Fluid Balance

The equilibrium between the fluid intake and fluid loss in the body to maintain health and proper physiological functions.

Glomerulonephritis

Inflammation of the glomeruli, which are tiny structures within the kidneys that filter blood, potentially leading to kidney failure.

Cystitis

An inflammation of the bladder, often due to infection, that causes discomfort and a frequent, urgent need to urinate.