Which of the Following Is True Regarding Pension Accounting and Reporting

question 22

Multiple Choice

Which of the following is true regarding pension accounting and reporting for state and local governments?

• A) When the General Fund makes a contribution to a pension trust fund, the account "Expenditures" is debited.
• B) The Statement of Changes in Fiduciary Net Position reports "additions" and "deductions," computed on the accrual basis.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Generativity

A stage of adult development where the focus is on guiding the next generation and contributing to society.

Intimacy

A personal connection that is intimate, friendly, and often characterized by affection or love with another person or group.

Elisabeth Kübler-Ross

a psychiatrist known for her pioneering work on the five stages of grief and death.

Anger

A strong feeling of displeasure or hostility aroused by what is perceived as wrong, injustice, or frustration.