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If pension expense recognized in a period exceeds the current amount funded by the employer, what kind of account arises, and how should it be
If pension expense recognized in a period exceeds the current amount funded by the employer, what kind of account arises, and how should it be reported in the financial statements?If the reverse occurs - that is, current funding by the employer exceeds the amount recognized as pension expense - what kind of account arises, and how should it be reported?Can we provide some real life examples?
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