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:

Anthropomorphic

Attributing human characteristics or behaviors to animals, gods, or inanimate objects.

Pheromones

Chemical substances produced and released into the environment by an animal, affecting the behavior or physiology of others of its species.

Nicotine

A stimulant and addictive substance found in tobacco plants, primarily responsible for the addictive nature of tobacco smoking and vaping.

Independent Evolution

The process by which distinct species evolve similar characteristics independently of each other, often due to similar environmental pressures; also known as convergent evolution.