When Actuarial Estimates Related to Defined Benefit Pension Plans Are

question 63

Multiple Choice

When actuarial estimates related to defined benefit pension plans are adjusted

• A)both U.S.GAAP and IFRS require companies to report these valuation changes in OCI each period.
• B)only U.S.GAAP requires companies to report these valuation changes in OCI each period.
• C)only IFRS requires companies to report these valuation changes in OCI each period.
• D)neither U.S.GAAP nor IFRS requires companies to report these valuation changes in the financial statements.

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Definitions:

Glucosamine

A natural compound found in cartilage that is commonly used as a dietary supplement for joint health.

Aspirin Therapy

The use of aspirin to reduce pain, fever, inflammation, and, in low doses, to prevent blood clots.

Cartilage

A flexible connective tissue found in various parts of the body, including joints between bones, the rib cage, ear, nose, bronchial tubes, and intervertebral discs, providing support and cushioning.

Location

A specific place or position within a physical space or environment.