The Journal Entry a Company Uses to Record Partially Funded

question 54

Multiple Choice

The journal entry a company uses to record partially funded pension rights for its salaried employees, at the end of the year is

• A) debit Salary Expense; credit Cash
• B) debit Pension Expense; credit Unfunded Pension Liability
• C) debit Pension Expense; credit Unfunded Pension Liability and Cash
• D) debit Pension Expense; credit Cash

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Definitions:

Professional Training

Education and training programs designed to enhance the skills and knowledge of professionals in their respective fields.

Front-Line Nursing Home

Direct care and service providers in nursing homes who are the primary caregivers and interact most frequently with the residents.

Family Members

Individuals related by blood, marriage, or adoption who typically share close personal relationships and may cohabit or support one another.

Training

The process of teaching or learning a skill or behavior through practice and instruction.