Which of the following defined benefit pension plan disclosures should be made in a company's financial statements?

I. A description of the company's funding policies and types of assets held.

II. The amount of net periodic pension cost for the period.

III. The fair value of plan assets.

a. I and II.

b. I only.

c. I, II and III.

d. II and III.

A lease is classified as a capital lease because it contains a bargain purchase option. Over what period of time should the lessee amortize the leased property?

a. The lease term or the economic life of the asset, whichever is shorter.

b. The term of the lease.

c. The economic life of the asset, not to exceed 40 years.

d. The economic life of the asset.