In a recent year's financial statements, Procter & Gamble showed an unfunded pension liability of...
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Accounting
In a recent year's financial statements, Procter & Gamble showed an unfunded pension liability of $ million and a periodic pension cost of $ million.
Select the correct statement that reflects the meaning of the $ million unfunded pension liability.
The $ million unfunded pension cost is a measure of the amount of pension paid out the retirees during the year.
The obligation decreases yearly by the amount of the $ million unfunded pension cost.
The $ million unfunded pension liability is the approximate amount that the value of the net assets of the pension plan exceeds the pension obligation.
The $ million unfunded pension liability is the approximate amount of the pension obligation that exceeds the value of the net assets of the pension plan.
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