In financial reporting for proprietary funds and at the government-wide level, the employer's pension expense for the period is equal to:

A. The employer's contribution.

B. Annual required contribution.

C. Annual pension cost.

D. The change in net pension obligation.

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14 March, 08:10

In financial reporting for proprietary funds and at the government-wide level, the employer's pension expense for the period is equal to:

A. The employer's contribution.

B. Annual required contribution.

C. Annual pension cost.

D. The change in net pension obligation.

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Answers (1)

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Dominique Bean · Answer 1

Answer C

Explanation:

Proprietary fund is a term used in accounting to refer to transactions within the government or outside of it. Pension expense for proprietary and all other entities that apply proprietary fund accounting should be recognized at an actual basis. That means that the employer should report pension expense equal to the annual pension cost.

In financial reporting for proprietary funds and at the government-wide level, the employer's pension expense for the period is equal to:A. The employer's contribution.B. Annual required contribution.C. Annual pension cost.D. The change in net pension obligation.

In financial reporting for proprietary funds and at the government-wide level, the employer's pension expense for the period is equal to:

A. The employer's contribution.

B. Annual required contribution.

C. Annual pension cost.

D. The change in net pension obligation.