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Business, 06.05.2020 22:09 jakiyahporter0817

In previous years, Generous, Inc., had offered a defined benefit pension plan for employees. At the beginning of the current year, Generous switched to a defined contribution plan for any employees not currently enrolled in the prior plan as well as for all new and future employees. There will be some prior service cost to recognize for those enrolling in the new plan. Which section of the Accounting Standard Codification best addresses the reporting of costs associated with the two plans?

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