Under current accounting guidance, the employer consolidates the assets and liabilities of the firm's pension plan with its own assets and liabilities.

Question

Quizplus · Accepted Answer

Under current accounting guidance, the assets and liabilities of a firm's pension plan are not consolidated with the firm's own assets and liabilities on its balance sheet. Pension plan assets and liabilities are reported separately.

Under Current Accounting Guidance, the Employer Consolidates the Assets and Liabilities