Which of the following is a NOT a true statement concerning postemployment benefits other than pensions (OPEB)?
A) OPEB comprise predominantly healthcare benefits.
B) Many governments do not provide OPEB or provide them on a pay-as-you-go basis.
C) GASB standards of accounting for OPEB are very similar to those for pension benefits.
D) OPEB plans should be accounted for in permanent funds.

Question

Quizplus · Accepted Answer

OPEB (Other Post-Employment Benefits) plans are typically accounted for in trust funds or other governmental funds, not in permanent funds. Permanent funds are used for situations where the principal is not expendable, which does not align with the nature of OPEB liabilities.

Which of the Following Is a NOT a True Statement