If a Government Had Two Pension Plans; One a Locally

question 32

True/False

If a government had two pension plans; one a locally administered plan for which it is trustee and one a statewide plan to which it contributes; the government would report only the locally administered plan as a pension trust fund in the basic financial statements.

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Definitions:

Reasons

Logic or explanations provided to justify or explain a belief, action, or conclusion, differing from the previous mention by focusing on the rationale itself.

Global High-Tech

Refers to industries and companies operating in the advanced technology sector on a worldwide scale.

Critical Thinking

The intellectual discipline of actively and skillfully analyzing, synthesizing, and evaluating information to guide belief or action.

Educated

Having received knowledge or learning through schooling or instruction.