1. The present value of the future benefits to be paid, taking into consideration expected future increases in salaries, is the --------------------------------------------------------------------

2. Interest cost is based upon the beginning balance of the ------------------------------ and uses a rate called the --------------------------------------------------------------------------------------------.

3. Retroactive benefits granted to employees for services performed before the initiation of the pension plan are called ---------------------------------------------------------------------------

4. Ten percent of the larger of the PBO at beginning of the year and pension fund at the same time is called the --------------------------------------------------------------------------------------

5. Operating losses may be carried back ----------------------years and forward----------------yrs.

6. When the PBO is less than plan assets, we say that plan assets is------------------------

7. A loss on sale of investment is reported in --------------------------------as an---------------------when preparing the cash flows statement.

8. If accounting income is less than taxable income, the difference is deferred tax -------------------------------; if its more, the difference is deferred tax------------------------------------------

9. Purchases of stock of other companies belong in the ---------------------------------section of the cash flows statement.

10. The two parties to a lease are --------------------------------- and --------------------------------------

11. The two types of Pension Plan are ------------------------------------------and------------------------

12. Income tax expense is based on -------------------------while taxes payable is based -----------

13. The difference between the expected return and actual return is referred to as -----------.