Which of the Following Is Not a Step in Reporting

question 30

Multiple Choice

Which of the following is not a step in reporting a pension liability?

• A) The pension benefit payments that will ultimately be required are estimated by an actuary.
• B) The portion of those payments that are attributable to past periods of employee service is calculated.
• C) The present value of amounts attributable to past periods of employee service is determined in order to arrive at the government's obligation at the present time.
• D) Excess liability balance is shown in the government-wide financial statements as a net pension asset.
• E) Excess liability balance is shown in the government-wide financial statements as a net pension liability.

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Definitions:

Analyze Information

The process of examining data methodically to understand its meaning and make informed decisions.

Information Technology

The employment of computers, storage systems, networking, and various physical devices, infrastructure, and procedures for the generation, processing, storing, securing, and sharing of all types of electronic data.

Communicate

The act of exchanging information, ideas, or feelings between individuals or groups, using various modes such as writing, speaking, or through digital platforms.

Coordination

The act of organizing and aligning different elements or activities so that they work together effectively towards a common goal.