Which of the Following Statements Regarding Employer Reporting of Pension

question 81

Multiple Choice

Which of the following statements regarding employer reporting of pension trust funds is not correct?

• A) Contributions by the governmental funds are recorded as expenditures in the General Fund.
• B) The net pension liabilities are reported in the government-wide statements.
• C) The net pension liabilities of proprietary fund employees are reported in the proprietary fund-basis statements
• D) Governmental funds report net pension liabilities of governmental fund employees as a fund liability.

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Definitions:

Total Landed Cost

The total cost of a product that includes the costs of purchasing, freight, insurance, and other costs up to the port of destination.

Lifecycle Costs

The total cost of owning or operating a product, system, or facility over its entire life, including acquisition, operating, and disposal costs.

Purchase/Acquisition Cost

The total expense incurred in obtaining a good or service, including the purchase price and associated costs.

E-procurement

The use of electronic methods, typically through internet-based applications, to conduct transactions and purchase goods and services.