Pension Benefits (F7:M1-2)

Question 1

if a company has multiple defined benefit plans, should the funded status of each be netted or calculated/recorded separately?

Answer 1

calculated separately

Question 2

the funded status of a pension benefit plan must be reported on which FS?

Answer 2

the BS as an asset or liability

Question 3

what does a pension asset reported in the BS represent?

Answer 3

FV of plan assets exceeding the PBO for the company’s overfunded plans