The FASB took an enormous step in SFAS No. 106 by requiring the recognition and measurement of OPEB costs and obligations.

Question

Quizplus · Accepted Answer

This statement is true. The FASB did indeed take a significant step in SFAS No. 106 by mandating the recognition and measurement of Other Postemployment Benefits (OPEB) costs and obligations. This standard applies to both public and private sector organizations and requires them to report the costs of OPEB promises they have made to their employees.

The FASB Took an Enormous Step in SFAS No