Which of the Following Is Not True Regarding Postemployment Benefit

question 51

Multiple Choice

Which of the following is not true regarding postemployment benefit plans other than pension plans?

• A) Most governments have operated on a pay-as-you-go basis, and plan net assets are small relative to benefits promised.
• B) GASB Statement No. 43, Financial Reporting for Postretirement Benefit Plans Other Than Pension Plans, requires that such plans be fully funded.
• C) Similar to pensions, governments are required to present two financial statements, the Statement of Plan Net Assets and the Statement of Changes in Plan Net Assets.
• D) Two schedules must be included as required supplementary information: the Schedule of Funding Progress and the Schedule of Employer Contributions.

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Definitions:

Supervised Settings

Environments where activities are monitored and controlled by qualified personnel, often ensuring safety and adherence to specific rules or standards.

Family Support

The assistance, comfort, and emotional sustenance provided by family members to each other, often crucial in times of illness or stress.

Tardive Dyskinesia

A neurological disorder characterized by involuntary, repetitive body movements, often resulting from long-term use of certain psychiatric medications.

Neuroleptic Malignant Syndrome

A rare, life-threatening reaction to antipsychotic drugs characterized by fever, muscle rigidity, and autonomic dysfunction.