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The following information is available for Figgy Enterprises Ltd. for calendar 2017. The corporation uses IFRS.
Plan assets (at fair value), end of year................... $1,800,000 Dr
Defined benefit obligation, end of year................... 1,920,000 Cr
Pension expense....................................................... 360,000
Contributions for year................................................ 324,000
The pension expense to be reported for 2017 is :
a) $360,000.
b) $346,000.
c) $324,000.
d) $120,000.
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