Which of the Following Is True Regarding Fiduciary Funds

question 19

Multiple Choice

Which of the following is true regarding fiduciary funds?

• A) When a government provides employees a defined benefit pension plan, the government is required to present a ten year Schedule of Changes in Net Pension Liability and Related Ratios as required supplementary information
• B) Governmental type funds report a net pension liability representing the unfunded pension obligation.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Parietal Bones

The parietal bones are a pair of bones located on either side of the skull, forming the roof and sides of the cranium.

Frontal

Pertaining to the forehead or the frontal bone of the skull, often used in reference to the lobe of the brain located behind the forehead.

Temporal Bones

Paired bones that form part of the side and base of the skull, housing the organs of hearing and equilibrium.

Hyoid Bone

A horseshoe-shaped bone situated in the anterior midline of the neck between the chin and the thyroid cartilage, supporting the tongue and serving as an attachment point for muscles of the lower jaw and neck.