Which of the Following Local Governments Is Least Likely to Report

question 17

Multiple Choice

Which of the following local governments is least likely to report a net pension liability for underfunded pension obligations?

• A) A local government acting as trustee for a defined benefit pension plan.
• B) A local government participating in a state sponsored defined benefit pension plan.
• C) A local government participating in a state sponsored defined contribution pension plan.
• D) None of the above, local governments do not report net pension liabilities.

---

Definitions:

Market Value

The market value at which a service or asset is currently available for purchase or sale.

Salvage Value

The projected remainder worth of a property upon reaching the end of its service period, frequently factored into depreciation estimations.

Depletion

The reduction in the value of natural resources, such as minerals, oil, and gas, as they are extracted and utilized.

Calculation

The process of determining a numerical result or value, often involving mathematical operations.