Gains and losses from plan settlements and curtailments should be:
A) amortized over the average remaining service period.
B) amortized over a systematic and rational manner.
C) recognized in income immediately.
D) deferred to the balance sheet.

Question

Quizplus · Accepted Answer

Gains and losses from plan settlements and curtailments should be recognized in income immediately according to Accounting Standards Codification (ASC) 715-30-35-4. There is no requirement for amortization over a period of time or deferral to the balance sheet.

Gains and Losses from Plan Settlements and Curtailments Should Be