What Was the Balance of the Net Pension Asset

question 151

Multiple Choice

What was the balance of the net pension asset / liability reported in the balance sheet at the end of the previous year?

• A)Net pension asset of $250.
• B)Net pension asset of $442.
• C)Net pension liability of $250.
• D)Net pension liability of $442.Service cost (from pension expense column) = $62 Interest cost = $(574) + 500 + 62 (from pension expense column) + $25 43 = $(30) = $30 in pension expense column
• Expected return on assets (given) = $(23)
• Gain on assets (given) = $2
• Loss on PBO (given) = $(25)
• Cash contributions (given) = $56
• Beginning net pension liability = $(286) + 62 + 30 23 2 +25 56 = $(250)

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A severe global economic downturn that occurred from late 2007 through mid-2009, marked by significant declines in income and employment.

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Expressions or measures that are unconditional and not relative to other variables or comparisons.

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Gross Domestic Product, the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

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A situation where a country's total imports of goods, services, and transfers exceed its total exports, reflecting an imbalance in foreign trade.