A) A pension plan is underfunded and presented as a liability in the balance sheet if

Group of answer choices

Fair value of plan assets < Accumulated benefit obligation

Accumulated benefit obligation > Vested benefit obligation

Fair value of plan assets < Projected benefit obligation

Projected Benefit obligation < Fair value of plan assets

B) Which of the following statements describes a defined contribution pension plan?

Group of answer choices

Investment risk is borne by the employer sponsoring the plan.

The accounting is more complex than that for defined benefit plans.

Present value amounts are used to estimate the employers obligation for the plan.

The employers obligation is satisfied by making required periodic contributions to the plan.