14. Which statement best describes the components of pension expense? O Pension expense is actually the combination of several components such as service cost, interest cost and expected return on pension assets. O Pension expense equals cash funding to pension plan assets during the year. O Pension expense equals cash payments to retirees during the year. 15. Which statement best describes the accounting for changes in the market value of pension assets and for changes in the present value of pension obligations? The net change is required to be recognized in current year earnings. The net change is generally not required to be recognized in the current year, but require extensive disclosures. o The net change is required to be recognized when the employee reaches age 81, per GAAP