A is corrent. ASC Topic 715 requires that a liability is recognized on the balance sheet if the projected benefit obligation exceeds the fair value of plan assets. Therefore, a liability of $1,700,000 ($4,700,000 - $3,000,000) must be recognized on the balance sheet.
B is incorrect. ASC Topic 715 requires that a liability is recognized on the balance sheet if the projected benefit obligation exceeds the fair value of plan assets. Therefore, a liability of $1,700,000 ($4,700,000 - $3,000,000) must be recognized on the balance sheet.
C is incorrect. ASC Topic 715 requires that a liability is recognized on the balance sheet if the projected benefit obligation exceeds the fair value of plan assets. Therefore, a liability of $1,700,000 ($4,700,000 - $3,000,000) must be recognized on the balance sheet.
D is incorrect. ASC Topic 715 requires that a liability is recognized on the balance sheet if the projected benefit obligation exceeds the fair value of plan assets. Therefore, a liability of $1,700,000 ($4,700,000 - $3,000,000) must be recognized on the balance sheet.
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