Identify which of these amounts best measures the employer’s liability as of the balance sheet date….

Firms with defined benefit pension plans report three separate liability amounts in the notes to the financial statements. These are the obligations for vested benefits, accumulated benefits, and projected benefits.

a. Describe how these amounts differ.

b. Identify which of these amounts best measures the employer’s liability as of the balance sheet date. Explain the reasons for your choice.

 

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