Which of the following is not true regarding pension accounting and reporting?
A) Local governments include only the pension plans for which it is trustee in pension trust funds Statement of Fiduciary Net Assets.
B) The pension trust fund Statement of Fiduciary Net Assets reflects the accrued actuarial liability (the excess of the projected benefit obligation over the net assets available for benefits) .
C) Pension investments are recorded at fair (market) value.
D) None of the above; all are true.
Correct Answer:
Verified
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