Senior Balance Sheet

Test your Senior-level Balance Sheet skills in Financial Statements. This timed assessment evaluates your expertise in Accounting.

Duration: 5 minutes

•40 questions

Time Remaining: 05:00

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40 questions remaining

Question 1 of 40Assessment

A company with a defined benefit pension plan sees a significant increase in the fair value of plan assets, exceeding growth in the DBO. What is the most likely impact on the balance sheet?

A. A decrease in the net defined benefit liability or an increase in the net asset.

B. A deferred tax asset is created for the plan surplus.

C. A direct increase in retained earnings through the income statement.

D. An increase in other comprehensive income that does not affect the balance sheet.

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