Penben Corporation has a defined benefit pension plan. At 31 December, its pension obligation is €10 million and pension assets are €9 million. If Penben chooses to report under a method consistent with both IFRS and U.S. GAAP, the reporting on the balance sheet would be closest to which of the following?
A. €10 million is shown as a liability, and €9 million appears as an asset.
B. €1 million is shown as a net pension obligation.
C. There is no choice that reports pension assets and obligations on the balance sheet consistently under IFRS and U.S. GAAP.
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