<span>D. all of these is correct</span>
This question is to complex. In Order for this to be answerable you would need to put it into chunks
Answer:
e) All temporary accounts are closed but permanent accounts are not closed.
Explanation:
At the time of the closing entries, the temporary accounts are closed instead of all other accounts. The temporary accounts include revenues account, expenses account, dividend paid account, ultimately income summary account
These accounts are closed so that the amount of these accounts should be carried forward to the next accounting period. The amount would always be zero, And in every accounting period, these accounts are closed.
Answer:
the pension obligation on the basis of the plan formula applied to years of service to date and based on existing salary levels
Explanation:
Accumulated benefit obligation (ABO) is the nearest amount that represent the liability pension plan of the company for the time period. It is predicted and depend upon the assumption that the pension plan would be ended on instant basis also it would not considered any increment in the future salary
So according to the options given, it would determined the pension obligation that based upon the plan formula and the same would be applied to service years also it would be depend upon the existing level of salary
