1. Which of the following are recognized as a liability? I. Cash dividends payable II. Scrip dividends payable III. Property dividends payable IV. Share dividends payable All are recognized as a liability I and II only. I and III only I, II, and III only  2. Which of the following situations will result in a future deductible amount?  Carrying amount of the asset > tax base of the asset Tax base of the asset > carrying amount of the asset Carrying amount of the liability < tax base of the liability Financial income > Taxable income 3. Under IAS 19 Employee Benefits, how is actuarial gain or loss handled? recognized in full in profit or loss. recognized in full in other comprehensive income. amount falling outside the corridor is amortized over the remaining service life of employees and is taken to the profit or loss. amount falling outside the corridor is amortized over the remaining service life of employees and is taken to the other comprehensive income.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Which of the following are recognized as a liability?
I. Cash dividends payable
II. Scrip dividends payable
III. Property dividends payable
IV. Share dividends payable

  • All are recognized as a liability
  • I and II only.
  • I and III only
  • I, II, and III only 

2. Which of the following situations will result in a future deductible amount? 

  • Carrying amount of the asset > tax base of the asset
  • Tax base of the asset > carrying amount of the asset
  • Carrying amount of the liability < tax base of the liability
  • Financial income > Taxable income

3. Under IAS 19 Employee Benefits, how is actuarial gain or loss handled?

  • recognized in full in profit or loss.
  • recognized in full in other comprehensive income.
  • amount falling outside the corridor is amortized over the remaining service life of employees and is taken to the profit or loss.
  • amount falling outside the corridor is amortized over the remaining service life of employees and is taken to the other comprehensive income.
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