Which Statement Is Correct

question 35

Multiple Choice

Which statement is correct?

• A)The defined benefit liability or asset must be separately identified on the income statement.
• B)The components of pension expense must be disclosed in the notes to the statements.
• C)The defined benefit liability or asset must be separately identified on the balance sheet.
• D)Pension asset/liability amounts can be offset if a company has more than one benefit plan.

---

Definitions:

Transition

The process or period of changing from one state or condition to another.

Rigid Stance

A firm or inflexible position or opinion on a particular subject, showing little to no willingness to change.

Opening Statement

The initial remarks of an argument, presentation, or legal trial, aimed at providing an overview or setting the context.

Presentation

A structured delivery of information to an audience, often involving visual aids or speeches to convey messages.