In computing the ending balance of defined benefit obligation, which of the following is deducted from the beginning balance? (1) Current service cost (2) Actuarial loss (3) Actuarial gain (4) Benefits paid O 1 and 4 O 3 and 4 O1 and 3 O 2 and 3
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- Which of the following is reported in profit or loss in accordance with PAS 1?I. Sales revenue II. Impairment lossIII. Interest income IV. Re-measurement loss on defined benefit plans Group of answer choices I and II only III and IV only II, III and IV only I, II, and III only I, II, III and IV**Please provide in details How is the Accumulated Benefit Obligation (ABO) different from the Projected Benefit Obligation (PBO)? What events may cause the balance of the PBO to change?1. All of the following are components of the defined benefit cost except * unvested past service cost interest on the effect of the asset ceiling loss on settlement return on plan assets 2. Which of the following are recognized in other comprehensive income? service cost net interest in net defined benefit liability (asset) amortization of actuarial gains or losses difference between interest income on plan assets and return on plan assets 3. The balance of the present value of defined benefit obligation is affected by all of the following except * actuarial gains or losses interest cost current service cost contributions to the fund 4. If the present value of the defined benefit obligation exceeds the fair value of the plan assets, there is * deficit surplus expense prepaid accrued benefit cost
- (3, 5, 8 ) Helping tags: Accounting, Intermediate Accounting . . . WILL UPVOTE, just pls help me answer the question and show complete solutions. Thank you! 1. The information on the defined benefit plan is provided in the picture. a) What is the net defined asset or liability on the beginning of the period? b) How much is the defined benefit cost reported in profit or loss? c) What is the net defined asset or liability at the end of the period?Which of the following does not increase the Projected Benefit Obligation? Actuarial loss on benefit obligation Current service costs Interest expense on benefit obligation Settlement of benefit obligationWages payable is classified as : a. Current asset b. Long term liability c. Fixed asset d. Current liability
- Which of the following are recognized in other comprehensive income? service cost net interest in net defined benefit liability (asset) amortization of actuarial gains or losses difference between interest income on plan assets and return on plan assets**Pls new ans How is the Accumulated Benefit Obligation (ABO) different from the Projected Benefit Obligation (PBO)? What events may cause the balance of the PBO to change?Differentiate between the accumulated benefit obligation and the projected benefit obligation.
- (2, 7) Helping tags: Accounting, Intermediate Accounting . . . WILL UPVOTE, just pls help me answer the question and show complete solutions. Thank you! 1. The information on the defined benefit plan is provided in the picture. a) How much is the remeasurement on asset ceiling to be reported in OCI? b) What is the interest on asset ceiling?Which of the following costs is a nonlease component for the lessee? taxes maintenance insurancetrue or false The net defined benefit liability/asset that is presented in the balance sheet is the difference between the FVTA and the PV of DBO, subject to the asset ceiling if appropriate.