Question: With regard to current GASB standards for pension reporting do the following:
a. Distinguish between
(1) defined contribution plans and
(2) defined benefit plans.
b. Distinguish between
(1) agent and
(2) cost-sharing multiemployer plans.
c. Define the following terms:
(1) annual required contribution and
(2) net pension obligation.
d. Distinguish between expenditure/expense reporting for
(1) agent multiemployer plans and
(2) cost-sharing multiemployer plans.
e. Distinguish between reporting for employers for
(1) general government employees and for
(2) enterprise fund employees.