32. Vested benefits a. usually require a certain minimum number of years of service. are those that the employee is entitled to receive even if fired. are not contingent upon additional service under the plan. TCC:: ::_:_:_:_:_:_: defined by all of these. b. α are
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- Vested benefits a. Usually require a certain minimum number of years of service b. Are those that the employee is entitled to receive even if fired c. Are not contingent upon conditional service under the plan d. Are defined by all of the above statements9. Sick pay benefits that are related to an employee's services already rendered, whose payment is probable and the amount reasonably estimated, must be accrued and recognized as a current liability if the obligation relates to rights that Accumulate Vest а. No No b. No Yes с. Yes No d. Yes YesREQUIRED:12. Compute the total benefit under the termination plan.
- Determine the meaning of the following terms. a. Contributory plan. b. Vested benefits. c. Retroactive benefits. d. Years-of-service method.Sick pay benefits that are related to an employee's services already rendered, whose payment is probable and whose amount can reasonably be estimated, must be accrued and recognized as a current liability if the obligation relates to rights that Accumulate I. No II. No III. Yes IV. Yes Οιν Vest No Yes No YesBenefits paid to members of a defined benefit p employment fund are based onil. investment returns generated by the fund.li. remuneration levels while err oyed.Ill. number of years of service.IV. the level of employer contributions made to the fund. Select one: a. Il and Ill only. b. I and I only. c. Il and IV only. • d. III and IV only.
- The following information pertains to X's defined benefit pension plan: Prepaid pension cost at the start of the year Current service cost Interest expense related to plan Actual income on plan assets P2,000 19,000 38,000 22,000 52,000 40,000 Past service cost Current year contribution 3) In its current year Balance sheet, what amount should X report as pension cost? a. 45,000 b. 49,000 C. 67,000 d. 87,000These are employee benefits (other than termination than termination benefits) which are payable after the completion of employment a. Short term b. Other long-term c. Share-based d. Post-employmentDetermine whether each of the following independent statements best applies to a defined contribution plan (DCP), a defined benefit plan (DBP), both (B), or neither (N). The amount to be received at retirement depends on actuarial calculations. 2. Forfeitures can be allocated to the remaining participants’ accounts. 3. Requires greater reporting requirements and more actuarial and administrative costs. 4. May exclude employees who begin employment within five years of normal retirement age. 5. Annual addition to each employee’s account may not exceed the smaller of $57,000 or 100% of the employee’s salary. 6. The final benefit to a participant depends upon investment performance.
- 6. It is basically the amount of an employee's SSS contribution. ЕЕ ER ЕС EEEUnder PFRS 15, how does a consignor satisfy its performance obligation under consignment contract? A. Satisfaction over a period of time B. Satisfaction at a specific point in time C. Either A or B D. Neither A nor BChoose the letter of correct answer. The topic is about employee benefits a. 200,000b. 100,000c. 50,000d. 0