Which of the following is not true regarding postemployment benefit plans other than pension plans?

Question

Quizplus · Accepted Answer

GASB Statement No. 43 does require disclosure and accounting for postemployment benefit plans other than pension plans, but it does not require them to be fully funded. Most governments have operated on a pay-as-you-go basis for such plans, which has resulted in underfunding. The two financial statements required for such plans are the Statement of Plan Net Assets and the Statement of Changes in Plan Net Assets. The two schedules required as supplementary information are the Schedule of Funding Progress and the Schedule of Employer Contributions.

Which of the Following Is Not True Regarding Postemployment Benefit