Ohlman, Inc. maintains a defined-benefit pension plan for its employees. As of December 31, 2011, the market value of the plan assets is less than the accumulated benefit obligation. The projected benefit obligation exceeds the accumulated benefit obligation.

In its balance sheet as of December 31, 2011, Ohlman should report a liability in the amount of the:

a. excess of the projected benefit obligation over the fair value of the plan assets.

b. excess of the accumulated benefit obligation over the fair value of the plan assets.

c. projected benefit obligation.

d. accumulated benefit obligation.