ch20 - CHAPTER 20 ACCOUNTING FOR PENSIONS AND...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER 20 ACCOUNTING FOR PENSIONS AND POSTRETIREMENT BENEFITS MULTIPLE CHOICE Conceptual Answer No. Description d 1. Factors considered by actuaries. c 2. Process of funding a pension plan. d 3. Accounting problems in pension plans. c 4. Nature of a defined contribution plan. b 5. Nature of a defined benefit plan. a 6. Definition of accumulated benefit obligation. a 7. Projected benefit obligation as a measure of pension obligation. d 8. Alternative measures of the pension obligation. d 9. Characteristics of vested benefits. d 10. Pension funding and pension expense recognition. a 11. Components of pension expense. c 12. Service cost calculated using future compensation levels. b 13. Settlement interest rates. a 14. Nature of plan assets. b 15. Definition of actual return on plan assets. b 16. Prepaid/accrued pension cost. a 17. Recognition of prior service costs. c 18. Amortization of prior service costs. b 19. Amortization methods for prior service costs. b 20. Recording unrecognized gains and losses. a 21. Use of market-related asset values. a 22. Gain or loss caused by a plant closing. c 23. Switch from a defined benefit plan to a defined contribution plan. b 24. Recognition of a minimum liability. b 25. Intangible assetdeferred pension cost. a 26. Identification of a balance sheet account. b 27. Disclosures of pension plan information. c 28. Function of Pension Benefit Guaranty Corporation. c *29. Disclosures of postretirement benefits. b *30. Transition amount. a *31. Postretirement benefits. c *32. Postretirement health care benefits. d *33. Accrual period. b *34. Expected postretirement benefit obligation. c *35. Transition amount. d *36. Item not recognized. *This topic is dealt with in an Appendix to the chapter. Test Bank for Intermediate Accounting, Eleventh Edition MULTIPLE CHOICE Computational Answer No. Description d 37. Calculate pension expense to be recognized. c 38. Calculate pension expense. a 39. Calculate pension expense for the period. b 40. Calculate pension expense to be recognized. c 41. Determine pension expense to be recognized. a 42. Calculate intangible asset to be reported. b 43. Calculate total pension liability to be reported. a 44. Calculate total pension liability. c 45. Calculate total pension liability reflecting minimum liability. c 46. Calculate minimum liability. b 47. Calculate amount of intangible asset. b 48. Calculate minimum liability. c 49. Calculate amount of intangible asset. b 50. Calculate minimum liability to be reported. a 51. Calculate intangible asset to be reported. d 52. Calculate total pension liability to be reported. d 53. Calculate amount of intangible asset to be reported. b 54. Calculate amortization of prior service cost....
View Full Document

This note was uploaded on 05/01/2011 for the course ACCT 3341 taught by Professor Dr.ramaswamy during the Spring '09 term at University of St. Thomas-Texas.

Page1 / 38

ch20 - CHAPTER 20 ACCOUNTING FOR PENSIONS AND...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online