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

Q: one or more of the following statements are characteristics of assets: a. a probable future benefit…

A: Assets are those resources whether tangible or intangible, current or fixed have an economic value…

Q: Describe some of the provisions of the standard that addresses asset retirement obligations.

A: Asset Retirement Obligation  It is a legal obligation related to the retirement of a tangible asset…

Q: true or false The net defined benefit liability/asset that is presented in the balance sheet is the…

A: True. Net defined benefit liability /asset is the difference between Present Value of Defined…

Q: The following are deductions from items of income, except: *   Cost of sales or service Regular…

A: 1) Cost of sales or service refers to the direct cost of producing the goods sold by a company. It…

Q: Q: part ii): a) What is interest and explain the main types? b)Amortization Schedule

A: (a) Interest is the payment made to the lender above the borrowed capital at a particular rate. In…

Q: Gain contingencies are usually recognized in the income statement when: a. realized…

A: Introduction: Contingency relates to the actual situation in which there is a chance of making or…

Q: Expenditures may be either capitalized or expensed. When Expenditure is capitalized it means that:…

A: Expenditures are the outflows of the business which help in the creation of assets that lead to the…

Q: Direction: Choose the correct answer.  1. A provision is a. An event which is not recognized…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: The following information on a defined benefit plan is provided: FVPA, beg 2,800,000 PVDBO, beg…

A: Defined Benefit Plan: A defined benefit plan is one in which the pension amount and retirement…

Q: In computing the ending balance of defined benefit obligation, which of the following is deducted…

A: Defined benefit obligation is the present value of future pension liabilities of a company which it…

Q: A currently maturing obligation of the entity is classified on the SFP as a?

A: Here SFP stands for statement of financial position. In a SFP different assets and liabilities are…

Q: Distinguish between one-time, recurring, and tangible and intangible expenses and benefits.

A: An expenditure is a business's operational cost incurred to produce income. It may be described as…

Q: Discuss the appropriate treatment in the income statement for the following items: a.    Loss on…

A: Income statement:   In this statement, the financial records of the company's monetary performance…

Q: Any of the following should be met for borrowing cost to be capitalized, borrowing cost are being…

A: Borrowing cost is the cost incurred by an entity due to the funds borrowed by it like, interest…

Q: Accounting Which statement is false? Accounting for asset retirement obligations (ARO) apply to both…

A: The given question asked about the correctness of the statement.    Assets retirement obligations:…

Q: Explain how the following transactions result in taxable /deductible temporarydifference:a. Interest…

A: The objective of this question is to understand how certain transactions can result in taxable or…

Q: Ac  Amortization Expense of Right of Use Asset Select one or more than one:   a. Normal balance…

A: The amortization expense of ROU (right-of-use) is to be shown under "Lease liability" in the income…

Q: Under U.S. GAAP, what is the expense resulting from the increase in the carrying amount of an asset…

A: The objective of the question is to identify the correct expense resulting from the increase in the…

Q: Which of the following cases would result in an actuarial loss? Projected benefit obligation…

A: As per IFRS, Actuarial gains and losses are changes in the present value of the defined benefit…

Q: . Must be expensed in the period incurred unless it can be clearly demonstrated that the expenditure…

A: IASB stands for International Accounting Standards Board and helps in the preparation and issuance…

Q: When should an expenditure be recorded as an asset rather than an expense? O Never O When future…

A: Lets understand the basics.When any expense which is going to have future benefits needs to…

Q: All of the following are components of the defined benefit cost except   unvested past service…

A: Defined benefit cost includes: Service cost Expected return on plan assets Change in the effect of…

Q: The return on plan assets   a.is the change in the fair value of the plan assets during the year. b.…

A: Introduction: A long-term employee benefit fund's plan assets are assets/investments kept for the…

Q: When accounting for self-constructed PPE and computing the amount of interest cost to be…

A: Self constructed PPE are those Property, Plant and Equipment which is constructed by the business on…

Q: Define asset retirement obligations (AROs).

A:

Q: Use U.S. GAAP to determine how to subsequently measure the ten financial assets in requirement 1.…

A: 1). All stand-alone derivatives are classified under the Fair Valu through Profit and Loss (FVTPL)…

Q: Which one of the following category prepaid expenses belong to?

A: Current assets are the assets of the company that are expected to be consumed through standard…

Q: Which of the following creates a taxable temporary- difference?

A: Introduction: A transitory difference is the difference between an asset's or liability's income…

Q: -1) Write down at least two examples for : Asset Liability Capital or Owners Equity Revenue Expense

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: under what conditions a short-term obligation should be excluded from current assets

A: Please find the answer to the above question below:

Q: ccording to IASB’s Conceptual framework for financial reporting which of the measurement bases above…

A: According to IASB'S Conceptual framework,  Measurement or reporting of the element in the financial…

Q: Question 3. Classify each of the following accounts as (a) asset, (b) liability, or (c) equity.…

A: Assets means resources that the business have. It may be tangible resources or intangible resources.…

Q: Which of the following is a current asset?   Question 3 options:     goodwill     prepaid…

A: Goodwill is a intangible asset.   Prepaid expenses is a current asset.   Accrued liabilities is a…

Q: Explain the accounting and amortization for unexpected gains and losses.

A: Amortization expense: A charge created on intangible asset for its use over life of asset. It is…

Q: The retirement income payable from which of the following retirement income benefit programs is…

A: Retirement income refers to an amount that is received by an employee from the employer at the time…

Q: Define amortization expense

A: Amortization expenses is a tool or technique that helps to lower the book value of loans and…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.