PART 1 Your answers to the following questions should be based upon use of the FASB Accounting Standards Codification (ASC). Answers that receive full credit must reflect: (a) the appropriate citation from the ASC - for example, if the question is to define a pension plan's benefit formula then your answer should include the following citation: ASC 715-30-05-4. (b) the use of your own words rather than the text or the ASC to provide the simplest and clearest answer to the question

Q1. What is the difference between the projected benefit obligation and the accumulated benefit obligation?

Q2.When a pension plan is amended to provide retroactive benefits to current period employees, why aren't these benefits included in current period pension cost?

Q3. In the current period, prior service cost is recognized in _____________________________.

Q4. Indicate the accounting treatment for differences between expected return on pension assets and actual return on pension assets.