Which of the Following Is Not True Regarding Postemployment Benefit

question 61

Multiple Choice

Which of the following is not true regarding postemployment benefit plans other than pension plans?

• A) Most governments have operated on a pay-as-you-go basis, leaving such plans underfunded.
• B) GASB Statement No. 43, Financial Reporting for Postretirement Benefit Plans Other Than Pension Plans, requires that such plans be fully funded.
• C) Similar to pensions, governments are required to present two financial statements, the Statement of Plan Net Assets and the Statement of Changes in Plan Net Assets.
• D) Two schedules must be included as required supplementary information: the Schedule of Funding Progress and the Schedule of Employer Contributions.

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