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15 perpetually deferred. Question 7 The amortization of prior service cost: Not yet answered Points out of 1.00 P Flag question Select one: O a. is performed every year. O b. is performed only when it is more than 10% of the fair value of pension assets. O c. is performed only when it is more than 10% of the larger of the fair value of pension assets, or the projected pension benefit obligation. d. is perpetually deferred. Clear my choice Question 8 Not yet According to the FASB, recognition of a liability is required when the projected benefit obligation exceeds the fair value of plan assets. Conversely, when the fair value of plan assets exceeds the projected benefit obligation, the Board answered Points out of 1.00 Select one: a. requires recognition of an asset. Flag stinn the