kensington plc a hypothetical company based in the united kingdom offers its employe 1557347

Kensington plc, a hypothetical company based in the United Kingdom, offers its employees a defined benefit pension plan. Kensington complies with IFRS. Th e assumed discount rate that the company used in estimating the present value of its pension obligations was 5.48 percent. Information on Kensington’s retirement plans is presented in Exhibit 1.

At year-end 2010, £28,879 million represents:

A. the funded status of the plan.

B. the defined benefit obligation.

C. the fair value of the plan’s assets.