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The FASB requires only the years-of-service method for amortization of prior service cost. a)true b)false

User Koh
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Final answer:

The FASB requires the years-of-service method for amortization of prior service cost.

Step-by-step explanation:

The statement is true. The FASB (Financial Accounting Standards Board) requires the use of the years-of-service method for amortization of prior service cost, which is a method used in pension accounting. This method involves spreading the cost of providing pension benefits over the employees' years of service.

User Marcelo Myara
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