Multiple Choice
At December 31, 2017, Mongo, Inc., reported in its balance sheet a net loss of $3 million related to its pension plan. The actuary for Mongo at the end of 2018 increased her estimate of future salary levels. Mongo's entry to record the effect of this change will include:
A) A debit to loss-OCI and a credit to PBO.
B) A debit to PBO and a credit to loss-OCI.
C) A debit to pension expense and a credit to PBO.
D) A debit to pension expense and a credit to loss-OCI.
Correct Answer:
Verified
Correct Answer:
Verified
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