Question
A county reports its defined benefit pensions for employees of governmental and proprietary funds on the government-wide financial statements. Here is information for fiscal 2021.
A county reports its defined benefit pensions for employees of governmental and proprietary funds on the government-wide financial statements. Here is information for fiscal 2021.
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The total pension liability, measured at the end of fiscal 2021, is $100,000,000, while the total pension liability, measured at the end of fiscal 2020, is $85,000,000.
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The net increase in deferred outflows related to pensions was $2,000,000, while deferred outflows released to pension expense were $300,000.
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The net increase in deferred inflows related to pensions was $150,000, while deferred inflows released to pension expense were $20,000.
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The county transferred $5,000,000 in cash to the pension trust fund.
The $20,000 in deferred inflows released during the year
A. Reduce pension expense for fiscal 2021. B. Reduce pension expense for fiscal 2022. C. Add to pension expense for fiscal 2021. D. Add to pension expense for fiscal 2022.
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