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How gd recorded a nonrecurring item on the income statement

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Question 1: In 20X6, General Dynamics (GD) had a Prepaid Pension Asset of $12.4 billion, total assets of $495 billion, and net income of $13.7 billion. This means that

  1. GD recorded a nonrecurring item on the income statement for $12.4 billion.
  2. GD's pension plan was overfunded by $12.4 billion.
  3. GD had extraordinary liabilities of $12.4 billion.
  4. GD's pension plan was underfunded by $12.4 billion.

Reference no: EM132487122

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