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Download Full Version T7 WorldatWork Exam

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Total 89 questions
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International Financial Reporting Standards for Compensation Professionals Exam Questions and Answers

Question 5

The IAS 19 standard applies to which of the following groups of employees?

Options:

A.

Directors and management personnel

B.

All employees except casual employees

C.

All employees

D.

All full-time employees

Question 6

To estimate how much the employees have earned for their work in the current and prior periods in order to attribute the benefit to the periods of service and to incorporate estimates about demographics and financial variables into calculations, a company must utilize what method?

Options:

A.

Re-measurement method

B.

Fair value method

C.

Net present value method

D.

Projected unit credit method

Question 7

What is the purpose of an income statement?

Options:

A.

To show liability and equity and the manner in which those funds are employed

B.

To account for changes in cash during the accounting period

C.

To show details of the nature of a company’s operating activities

D.

To reconcile the beginning and ending balances of stockholders’ equity

Question 8

Company XYZ does not disclose any information in the notes to their financial statements unless the value of the information to users exceeds the expense of gathering it. Which constraint of Level 3 of the conceptual framework does this represent?

Options:

A.

Cost

B.

Materiality

C.

Expense

D.

Disclosure

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Total 89 questions
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