Which Statement Is Correct

question 35

Multiple Choice

Which statement is correct?

• A)The defined benefit liability or asset must be separately identified on the income statement.
• B)The components of pension expense must be disclosed in the notes to the statements.
• C)The defined benefit liability or asset must be separately identified on the balance sheet.
• D)Pension asset/liability amounts can be offset if a company has more than one benefit plan.

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Definitions:

Latent

Existing but not yet developed or manifest; hidden or dormant potential that may emerge under certain conditions.

Technological Advancements

The process of innovation and development in technology, leading to new products, services, or ways of doing things.

Internal Resources

Assets, capabilities, and systems within a company that can be leveraged to achieve business objectives.

Political Environment

Refers to the government actions, policies, and political stability of a country that can affect its business operations and markets.