One component of the pension liability under both U.S. GAAP and IFRS is prior service cost (or past service cost under IFRS). AB

Question

2 years ago

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One component of the pension liability under both U.S. GAAP and IFRS is prior service cost (or past service cost under IFRS). AB

C Company is trying to calculate the effect of PSC on their financial statements under both standards. Which of the following statements is true related to this analysis?

Business

1 answer:

Ket [755] · Answer 1 · 2022-01-08T07:32:31+03:00

Ket [755]2 years ago

4 0

Answer:

Option A is correct which states that".There is no such thing, in IASB standards, as a "contingent asset"