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For a defined benefit pension plan prior service costs should be Charged direct against retained earnings as a cost relating to the past Amortized to
For a defined benefit pension plan "prior service costs" should be
Charged direct against retained earnings as a cost relating to the past | ||
Amortized to pension expense over the expected average service period of past and current employees expected to receive benefits | ||
Taken into consideration only by adding to pension expense the interest on the unfunded amount | ||
Recorded in full as a liability at their discounted present value |
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