Stanley-morgan industries adopted a defined benefit pension plan on april 12, 2009. the provisions of the plan were notmade retroactive to prior years. a local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rateof return. a consulting firm, engaged as actuary, recommends 6% as the appropriate discount rate. the service cost is$150,000 for 2009 and $200,000 for 2010. year-end funding is $160,000 for 2009 and $170,000 for 2010. no assumptionsor estimates were revised during 2009.required: calculate each of the following amounts as of both december 31, 2009, and december 31, 2010: 1. projected benefit obligation2. plan assets3. pension expense4. net pension asset/liability

Being an expert problem solver is something you're either born with or not. true or false

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall