You have been reading the footnotes to your hospitals financial statements and were surprised to see that
Question:
You have been reading the footnotes to your hospital’s financial statements and were surprised to see that the actuarial present value of accumulated pension plan benefits is $4,500,000. A footnote cites a fund of $8,500,000 that has been established to pay these benefits. However, you can find no mention of either the liability or the fund in the balance sheet. What might explain this situation?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Essentials Of Health Care Finance
ISBN: 9781284094633
8th Edition
Authors: William O. Cleverley, James O. Cleverley
Question Posted: