Question

Which of the following statements regarding employer reporting of pension trust funds is not correct? Group of answer choices Contributions by the governmental funds are recorded as expenditures in the General Fund. The net pension liabilities of proprietary fund employees are reported in the proprietary fund-basis statements. The net pension liability is reported in the government-wide financial statements. The net pension liability is reported in the governmental fund financial statements. Re-watch Continue Play 17:49 19:44 Question 1, Answered Question 2, Answered Question 3, Answered Question 4, Unanswered Question 5, Unanswered Volume Playback Speed 1x 1x Media Quality Full Screen Playback Speed Play Volume Media Quality Full Screen Details Quiz Results

Answer 1

Answer: The net pension liability is reported in the governmental fund financial statements

Step-by-step explanation:

A pension trust fund is a long term savings plan that is being contributed to by the employer and the employee and it's a form of job benefit.

A pension plan is used to help workers build their retirement income and then withdraw as annuity payments. The option that the net pension liability is reported in the governmental fund financial statements isn't correct.