1. IFRS is the acronym for A) International Financial Reporting Service. B) International Financial Reporting Statements. C) International Financial Regulatory Standards. D) International Financial Reporting Standards. 2. FASB is the acronym for A) B) C) D) Financial Accounting Services Board. Financial Accounting Statements Board. Federal Accounting Services Board. Financial Accounting Standards Board. 3. MACRS is the acronym for A) B) C) Modified Accounting Cost Recognition System Modified Accelerated Cost Recovery System Modified Accounting Cost Recovery System 4. Which of the following will decrease pension expense? A) Benefits paid to retirees. B) Actual return on plan assets. C) Contributions to plan assets. D) None of these. 5. An underfunded pension plan means that: A) Plan assets Contributions D) Contributions