Amendment of a pension plan

Assignment Help Accounting Basics

Reference no: EM13132118

When a company amends a pension plan, for accounting purposes, prior service costs should be:

a. treated as a prior period adjustment because no future periods are benefited.

b. amortized in accordance with procedures used for income tax purposes.

c. recorded in other comprehensive income (PSC).

d. reported as an expense in the period the plan is amended.

Reference no: EM13132118

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