Proprietary Funds Record the Net Pension Liability as a Fund

question 31

True/False

Proprietary funds record the net pension liability as a fund liability.

---

Definitions:

Negligence-Based Action

A legal claim arising from injuries or damages caused by someone's failure to exercise reasonable care or caution.

Privity Of Contract

A principle stating that only the parties involved in a contract have the rights and obligations under that contract.

Market Share Theory

A principle that assigns liability to manufacturers based on their market share of a harmful product when the specific source of harm cannot be identified.

Tortfeasors

Individuals or entities that have committed a tort, which is a civil wrong or injury that can be redressed by awarding damages.