Ch 20 - Name: Status : Score: Instructions: Test Accounting...

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Name: Test Accounting for Pensions and Postretirement Bebefits --- Stec Status : Completed Score: 190 out of 200 points Instructions: Question 1 Multiple Choice 10 of 10 points A corporation has a defined-benefit plan. An accrued pension cost will result at the end of the first year if the Selected Answer: amount of net periodic pension cost exceeds the amount of employer contributions. Question 2 Multiple Choice 10 of 10 points Service cost is the expense caused by the increase in the accumulated benefit obligation because of employees' service during the current year. Selected Answer: False Question 3 Multiple Choice 10 of 10 points Unrecognized gains and losses that relate to the computation of pension expense should be Selected Answer: recorded currently and in the future by applying the corridor method which provides the amount to be amortized. Question 4 Multiple Choice 10 of 10 points Presented below is information related to Marley Inc. pension data for 2008. What amount should be reported for pension expense in 2008? Selected Answer: $1,365,000 Question 5 Multiple Choice 10 of 10 points On January 1, 2008, Kinder Co. has the following balances: The fair value of plan assets at December 31, 2008 is
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Ch 20 - Name: Status : Score: Instructions: Test Accounting...

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