Which of the Following Is Not a Step in Reporting

Multiple Choice

Which of the following is not a step in reporting a pension liability?

A) The pension benefit payments that will ultimately be required are estimated by an actuary.
B) The portion of those payments that are attributable to past periods of employee service is calculated.
C) The present value of amounts attributable to past periods of employee service is determined in order to arrive at the government's obligation at the present time.
D) Excess liability balance is shown in the government-wide financial statements as a net pension asset.
E) Excess liability balance is shown in the government-wide financial statements as a net pension liability.