Duffner Corporation is a medium-sized manufacturer of paperboard containers and boxes. The corporation sponsors a noncontributory, defined benefit pension plan that covers its 250 employees.
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Duffner Corporation is a medium-sized manufacturer of paperboard containers and boxes. The corporation sponsors a noncontributory, defined benefit pension plan that covers its 250 employees. Sid Caesar has recently been hired as president of Duffner Corporation. While reviewing last year's financial statements with controller Imogene Coca, Caesar expressed confusion about several of the items in the footnote to the financial statements relating to the pension plan. In part, the footnote reads as follows.
