International Financial Reporting Standards for Compensation Professionals

Here you have the best WorldatWork T7 practice exam questions

  • You have 89 total questions to study from
  • Each page has 5 questions, making a total of 18 pages
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Question 1 of 89
IAS 19 requires that all numbers involved in accounting for defined benefit plans be presented as a single amount in the statement of financial position. What is this amount called?
Correct Answer: A

Question 2 of 89
Paid annual leave and paid sick leave are examples of which kind of employee benefits?
Correct Answer: A

Question 3 of 89
Employee benefits that are not short-term, post-employment or termination benefits are considered what kind of benefits?
Correct Answer: D

Question 4 of 89
Which body has the sole responsibility for setting standards?
Correct Answer: B

Question 5 of 89
What is the present value of any economic benefits available in the form of refunds from or reductions in the future contributions to the defined benefits plan called?
Correct Answer: B