FASB Codification

Access the glossary (Master Glossary) to answer the following.

(a) What is an accumulated benefit obligation?

(b) What is a defined benefit postretirement plan?

(c) What is the definition of actuarial present value?

(d) What is a prior service cost? In general, how can an employer choose an appropriate discount rate for its pension plan? What information could an employer use in choosing a discount rate?