Use the following information for questions 86 and 87.
Foster Corporation received the following report from its actuary at the end of the year:
-The amount reported as the pension liability at December 31, 2014 is

Question

Use the following information for questions 86 and 87.
Foster Corporation received the following report from its actuary at the end of the year: 
-The amount reported as the pension liability at December 31, 2014 is

Quizplus · Accepted Answer

The actuary's report indicates a projected benefit obligation (PBO) of $1,000,000 and a fair value of plan assets of $380,000, resulting in a pension liability of $620,000 ($1,000,000 - $380,000).

Use the Following Information for Questions 86 and 87