Regarding the Presentation and Disclosure of Pension Plans, Which Statement

question 36

Multiple Choice

Regarding the presentation and disclosure of pension plans, which statement is true?

• A)Enterprises must disclose the components of pension gains.
• B)If the pension expense, OCI, and the defined benefit asset or liability are not separately identified on the face of the financial statements, they must be disclosed in the notes.
• C)When a company has more than one defined benefit plan, IFRS usually permits the company to offset pension asset and pension liability amounts.
• D)Two plans that both have net liability positions cannot be added together.

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Definitions:

Standard Costs

Predetermined cost estimates used to measure the cost performance of an operation, allowing for budgeting and variance analysis against actual costs.

Standard Price

A predetermined cost of a resource or product, used for budgeting and cost control purposes.

Standard Quantity

A predetermined amount of input that should be used in producing a unit of output.

Standard Costs

Predetermined costs for manufacturing a product or service, used as a benchmark to measure the actual costs of production.