ACCT 370 Connect Smartbook Assignment 15 solutions complete answers and more!

ACCT 370 Connect Smartbook Assignment 15 solutions complete answers and more!

 

A legal entity that invests and holds assets for the employees' benefit is a(n)

 

In a defined benefit pension plan,

 

In a pension plan, the plan trust

 

From 1980 to 2018,

 

All of the following pension factors are difficult to estimate, except

 

A       plan is an agreement by a sponsor to provide payments to employees when they retire.

 

New gains and losses on pension assets and liabilities

 

In a defined contribution pension plan,

 

Which of the following can increase pension expense?

 

In a pension plan, the sponsor

 

The projected benefit obligation calculation is based on

 

Since 1980, the assets in defined contribution plans have

 

To compute interest cost, a firm would multiply

 

To compute expected return, a firm would multiply

 

Gains and losses on pension assets and liabilities

 

Which of the following are components of pension expense under current GAAP?

 

Which of the following is true regarding the interest rates used to compute service cost and interest cost components of pension expense?

 

The present value of pension benefits earned to date is called the

 

Between 2009 and 2017, discount rates

 

To compute interest cost, a firm would multiply the discount rate by the

 

Use of expected return in pension expense instead of actual return

 

To compute expected return, a firm would multiply the expected rate of return by the

 

A firm determines that the loss that exceeds the corridor is $3,600,000. The average remaining service period for the pension plan is 12 years. Under the corridor approach, the firm would

 

A firm determines that the gain outside the corridor is $3,000,000. The average remaining service period for the pension plan is 15 years. Under the corridor approach, the firm would

 

Which of the following are true regarding GAAP guidance on discount rates?

 

When an amendment results an increase to the projected benefit obligation, the total amount of the new prior service cost would result in a

 

On January 1, 2020, Dundee Corporation amended its pension plan to increase pension benefits. The associated prior service costs were $1,000,000, and the average remaining service period at the time of the amendment was 10 years. The corridor was $300,000. For the year ended December 31, 2020, the net effect on other comprehensive income for the prior service costs would be

 

When the actual return dollar amount exceeds the expected return dollar amount,

 

To compute the corridor for pension expense, a firm would multiply 10% by the greater of which two of the following numbers?

 

According to ASU 2017-17, which of the following component of pension expense will not be shown below income from operations?

 

A firm determines that the loss outside the corridor is $4,000,000. The average remaining service period for the pension plan is 10 years. Under the corridor approach, the firm would

 

Plan assets are increased by

 

The dollar amount of a change to the projected benefit obligation due to retroactive pension plan enhancements or reductions is called                  .

 

Service cost and interest cost

 

On January 1, 2020, Dundee Corporation amended its pension plan to increase pension benefits. The associated prior service costs were $1,000,000, and the average remaining service period at the time of the amendment was 10 years. The corridor was $300,000. For the year ended December 31, 2020, to account for the prior service costs, Dundee would

 

______ was created to assume pension obligations when sponsors are bankrupt and plan assets are inadequate.

 

The funding ratio is

 

ASU 2017-17 required that _______ be included in income from operations.

 

McQueen Company computes its December 31, 2020 projected benefit obligation using a 6% discount rate and its December 31, 2021 projected benefit obligation using a 5% discount rate.

 

When the funded status is a net liability, the net liability would by decreased by

 

When comparing pension note disclosures and other comprehensive income (OCI) disclosures,

 

When a firm uses the corridor method, a new actuarial loss on the projected benefit obligation

 

______ introduced minimum funding requirements, limited investments in employer stock, and created the Pension Benefit Guaranty Corporation.

 

Use of a smoothed market related value affects

 

Which of the following are findings of the research that sought to explain firms' funding strategies by examining the relationship between funding ratios and economic incentives and costs?

 

A firm's funding ratio (plan assets divided by PBO)

 

Brenner, Inc. computes its December 31, 2020 projected benefit obligation using a 4% discount rate and its December 31, 2021 projected benefit obligation using a 5% discount rate.

 

The long-term risk ratio has

 

Which statement is true about other comprehensive income (OCI) disclosures related to defined benefit pension plans?

 

When computing expected return, the beginning balance must be adjusted for which of the following?

 

When a defined benefit plan is underfunded,

 

The short-term risk ratio has

 

The             is the net difference between the fair value of plan assets and the projected benefit obligation.

 

The projected benefit obligation is increased by

 

When a firm uses the corridor method, amortization of an actuarial loss

 

Which of the following plan types is considered a defined benefit plan?

 

Which of the following types of defined contribution plans requires the company to contribute to the pension trust regardless of whether it is having a good year or an employee has made a voluntary election?