Which of the following is true regarding fiduciary funds?
A. Governmental type funds report a net pension liability representing the unfunded pension obligation.
B. 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.
C. Both of the above.
D. Neither of the above.
Answer: B
You might also like to view...
A product possesses a ________ ________ when it enjoys a superior position over competing products because consumers believe it has more value than other products in its category.
What will be an ideal response?
Communication is successful only when A) verbal feedback has been sent to the receiver
B) no noise occurs during the communication process. C) verbal and nonverbal feedback have been sent to the receiver. D) the receiver understands an idea as the sender intended it.
The financial pages of the local newspaper helped Mary in identifying that she can buy a bond ($1,000 par) for $800. If the coupon rate is 10 percent, the annual interest payments equal $80.
Answer the following statement true (T) or false (F)
Sales projections are often the most difficult part of the budgeting process because it involves a considerable amount of subjectivity.
Answer the following statement true (T) or false (F)