If a pension plan has not established an irrevocable trust to account for defined benefit pension plan contributions and distributions, a government participating in the plan would report its net pension liability in its proprietary fund and government-wide financial statements.

True / False.

Question

Business

Valeria Tucker

22 June, 14:19

If a pension plan has not established an irrevocable trust to account for defined benefit pension plan contributions and distributions, a government participating in the plan would report its net pension liability in its proprietary fund and government-wide financial statements.

True / False.

+4

Answers (2)

Know the Answer?

Neil House · Answer 1

False is the correct answer.

Explanation:

A pension plan is a retirement plan that needs an employer to make contributions to a pool of funds set aside for a worker's future benefit. In this case, it is false that if a pension plan has not established an irrevocable trust to account for defined benefit pension plan contributions and distributions, a government participating in the plan would report its net pension liability in its proprietary fund and government-wide financial statements.

Cesar Wyatt · Answer 2

The statement is incorrect, the answer is False.

If a pension plan has not established an irrevocable trust to account for defined benefit pension plan contributions and distributions, a government participating in the plan would report its net pension liability in its proprietary fund and government-wide financial statements.True / False.

If a pension plan has not established an irrevocable trust to account for defined benefit pension plan contributions and distributions, a government participating in the plan would report its net pension liability in its proprietary fund and government-wide financial statements.

True / False.