Jamieson Corp. sponsors a defined benefit plan for its employee group. The following data pertains to the plan's first 2 years in existence:

- The plan was started on January 1st, Year 1, with $20,000 of funding
- The company has a December 31st, year-end.
- The plan is non-contributory.
- The company's long-term debt is subject to a 6% discount rate.

-Jamieson's pension expense as per IFRS for Year 2 would be:

Question

Jamieson Corp. sponsors a defined benefit plan for its employee group. The following data pertains to the plan's first 2 years in existence:

-	The plan was started on January 1st, Year 1, with $20,000 of funding
-	The company has a December 31st, year-end.
-	The plan is non-contributory.
-	The company's long-term debt is subject to a 6% discount rate.

-Jamieson's pension expense as per IFRS for Year 2 would be:

Quizplus · Accepted Answer

The pension expense under IFRS includes the service cost, net interest on the net pension liability, and remeasurements of the net defined benefit liability. However, the question does not provide sufficient detail to calculate these components directly. Given the options, the correct answer is chosen based on typical components of pension expense under IFRS, which usually includes service cost and net interest. Without specific details, the most reasonable selection is A) $5,338, assuming it might include a combination of these costs.