During the fiscal year ended December 31, 2001, the Highland City General Fund contributed $48 million to a defined benefit pension plan for its employees.On February 27, 2002, Highland made an additional $2 million contribution related to the 2001 pension contribution requirements.The actuarially determined contribution amount for 2001 is $52 million.The amount of pension expenditure recognized by Highland City General Fund for 2001 should be:

Question

Quizplus · Accepted Answer

The pension expenditure recognized should include both the contributions made during the fiscal year and any additional contributions made shortly after the fiscal year-end that relate to that fiscal year. Therefore, the $48 million contributed during 2001 plus the $2 million contributed in February 2002 for 2001 requirements totals $50 million.

During the Fiscal Year Ended December 31, 2001, the Highland