If the Likelihood of Loss Is Remote,disclosure Usually Is Not

question 12

True/False

If the likelihood of loss is remote,disclosure usually is not required.

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Definitions:

Pension Funding

The process of allocating financial resources to a pension plan to meet future obligations to retirees.

Upcoming Year

Refers to the next calendar or fiscal year that is approaching and for which plans, budgets, or forecasts are being prepared.

Marginal Income Tax Rates

The percentage of tax applied to your income for each tax bracket in which you qualify.

Pension Plans

Retirement plans sponsored by employers providing income to employees upon retirement.