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GAAP relevant to employers’ accounting for pensions apply primarily to defined benefit pension plans. It defines the projected benefit obligation as the

The PBO is measured using assumptions about ------------------------------------.

A -----------------------------defines an amount of pension benefits to be provided to each employee

In the rare cases in which an entity cannot reasonably estimate the fair value of equity instruments at the grant date, the measurement is based on ----------------------

----------------------- is a measure of what an asset is worth. This measure is arrived at by means of an objective calculation or complex financial model, rather than using the currently trading market price of that asset.

If a premium on a bonds payable transaction is not amortized, what are the effects on interest expense and total stockholders’ equity?

Overstating an expense will ----------------- net income.

------------------- an expense will understate net income.

A liability arising from a loss contingency should be recorded if the

A material contingent loss must be accrued when the following two conditions are met:

It is ---------------- that, at the balance sheet date, an asset has been impaired or a liability has been incurred.

The amount of the loss can be ----------------- estimated.

The market price of a bond issued at a discount is the present value of its principal amount at the market (effective) rate of interest

A 15-year bond was issued in Year 1 at a discount. During Year 10, a 10-year bond was issued at face amount with the proceeds used to retire the 15-year bond at its face amount. The net effect of the Year 10 bond transactions was to increase long-term liabilities by the excess of the 10-year bond’s face amount over the 15-year bond’s