Which of the following is a correct statement concerning the reporting of the pension plan on the face of the employer's balance sheet?

Question

Quizplus · Accepted Answer

Under current accounting standards, the funded status of a pension plan (the difference between the plan's assets and its obligations) is reported on the employer's balance sheet. However, the Projected Benefit Obligation (PBO) and the plan assets are not separately reported on the face of the balance sheet. Instead, the net pension asset or liability (the difference between the fair value of plan assets and the PBO) is what gets reported.

Which of the Following Is a Correct Statement Concerning the Reporting