Answered: Compensation can be benefits. Select…

Business

Accounting

Compensation can be benefits. Select one: O a. Both a and b O b. None of the other points O c. Non-monetary benefits

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: PAS (or IAS) 24 requires disclosure of compensation of key management personnel. Which would not be…

A: Following is the answer to the given question

Q: n for them or other fee

Q: Compensation income may be in the form of monetary or in-kind benefit. a.true b.false

Q: Which of the following is reported in profit or loss in accordance with PAS 1? I. Sales revenue…

A: PAS 1: Presentation of financial statement prescribes the basis of presentation of general purpose…

Q: used in the computation of child care expenses are exactly the same basis for the earned income used…

A: Any benefit or obligation that is conditional on the presence of the RRSP or RRIF, with the…

Q: The components of postretirement benefit expense are similar to the components of pension expense.…

A: Other postretirement benefits: The postretirement benefits which are provided by employers, other…

Q: How is the Accumulated Benefit Obligation (ABO) different from the Projected Benefit Obligation…

A: Accumulated Benefit Obligation and Projected Benefit Obligation both are terms used in the pension…

Q: circumstances where the agent is granted compensation ?

A: The agents are appointed to perform or execute the functions on behalf of the principles, their…

Q: equity-based compensation contracts.

A: Compensating employees with equity has become the best compensation plan for attracting talented and…

Q: S1: Employee-sponsored retirement plans can be categorized into two: current service cost and…

A: Employee Sponsored Retirement Plan :— It is a type of retirement benefits provided by companies to…

Q: A. It is probable that an outflow of economic benefits will be required to settle an obligation B.…

A: Option D

Q: al Benefit al M&O Cost al M&O Grac age Value Payment

A: Incremental internal rate of return refers to the process of analyzing the estimated rate of return…

Q: Which of the following statements is not correct about defined contribution plans?

A: The defined contribution plan shows the retirement benefit to the employees of the company. The…

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: ification fo

A: Employees working with an entity for a specific number of years are eligible for retirement…

Q: Which of the following are the rights of agents: A Right of subsidy; right of support B Right of…

Q: What two components of pension expense may be negative (i.e., reduce pension expense)?

Q: e following statements about annuities are true? Ch hnuity due earns more interest than an ordinary…

A: Annuities are instruments that involve fixed payments. There are mainly two types of annuities i.e.…

Q: What is nonpecuniary benefits?

A: The benefits which are not in monetary form are called as Non Pecuniary benefits. The notion that…

Q: 2. When two or more policies cover the same loss, the right of the one insurer to call upon the…

A: The following are some of the Principles of Insurance Principle of Contribution Principle…

Q: The measurement of defined benefit cost is usually made by a trustee. a. TRUE b. FALSE

A: A defined-benefit plan is an employer-sponsored retirement plan in which employee benefits are…

Q: The party to whom payment is to be made is called the payee. True O False

A: Payee the person to whom the payment is made or to be made.

Q: Retirement programs, unemployment benefits, financial aid and other expenses that involve transfers…

A: Solution: Government spends money from its treasuries to fulfil various needs for people in economy.

Q: What is a Postretirement Benefit Plan?

Q: S1: Under a defined contribution plan, the amount of a participant’s future benefits is determined…

A: As per IAS 26 Accounting and Reporting by Retirement Benefit Plan the two given statements are of…

Q: According to PAS 19, how are other long-term benefits accounted for?

A: Philippine Accounting Standards (PAS) are the set of accounting standards based on the International…

Q: Which of the following is NOT a valid type of compensation for breach of contract? Select one: a.…

A: A contract is an agreement between two or more parties in which one party is bound to perform or not…

Q: Group of answer choices a. True b. False

A: The final salary plan is a conventional kind of a defined benefit plan in which the pension paid is…

Q: The process that determines the present value of a single payment or stream of payments to be…

A: By computing the present value of payment received in the future we know about the time value of…

Q: What is the amount of the plan assets available to pay benefits? What are the factors that can cause…

Q: mployee benefits are all forms of monetary consideration given by an entity in exchange for services…

A: Employee benefits are non-monetary compensation granted to employees as a condition of employment.…

Q: ll require the use of current assets. Payment of the obligation must be probable. The compensation…

A: The correct option is given as,

Q: Required: a. if arturito will accept the special order, what is the incrementak benefit(loss)?

A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…

Q: mpted by law or statute and it does not me on for services constitutes compensation in e as long as…

A: Compensation income refers to the form of income gained by an entity that arises out of an…

Q: When it comes to pension plans and other postretirement benefit schemes, what assumptions are made…

A: The answer

Q: Which of the following is considered or construed as an example of "constructive receipt"?

A: GIVEN the following is considered or construed as an example of "constructive receipt" is

Q: Which of the following is an indicator that an employee benefit is provided in exchange for…

A: The question is related Employee benefits. As per employee benefits It requires recognition of the…

Q: 8. Which of the following is a characteristic of a defined benefit plan? Post-employment benefits…

A: 8. Defined benefit plan is a plan designed to assure the employee certain benefit after his…

Q: Examples of benefits include all of the following, EXCEPT: a) retirement benefits. b) paid vacation.…

A: Benefit: Reward-driven behavior is the result of having an outwardly focused incentive. It may be…

Q: Discuss all the advantages and disadvantages of ‘co-payment

A: Co-payment is that fixed out of pocket expense that a person with health coverage will have to pay…

Q: Which of the following is/are true with regard to accounting for short-term employee benefits?…

A: Short-term employee benefits refer to those employee benefits that are supposed to be sorted out…

Q: The measurement of defined benefit cost is usually made by a trustee. True or false?

A: Defined-benefit plan: It is an Employer-Sponsored Retirement Plan in which employee benefits are…

Q: It is a type of retirement plan where the benefit to be received by the employee is dependent on the…

A: Retirement plans are those in which amounts are invested periodically which accumulate until the age…

Q: Give examples of the Equal Payment Series?

A: The goal of this method of investment is to determine the present value of an equivalent payment…

Q: allowable deduction?

A: Definition : Deductions under income tax: Deductions are allowed on taxable income of the…

Q: Determine the components of postretirement benefit expense

A: Post-retirement benefit expense: This is an expense to the employer-paid as compensation after the…

Q: elf-insurance is connected to workers compensation. State what is self -insurance and outline three…

A: Self-insurance is a strategy for trying to mitigate future loss by putting aside a specific amount…

Question

Compensation can be
benefits.
Select one:
O a. Both a and b
O b. None of the other points
O c. Non-monetary benefits
O d. Monetary benefits

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Please answer with reason for all why the option is correct and why the other options are incorrect 74. An expenditure whose benefit is finished or enjoyed immediately is called A.Expense B.Liability C.Cost D.Income
Required: a. if arturito will accept the special order, what is the incrementak benefit(loss)?
**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?
**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?
When should an expenditure be recorded as an asset rather than an expense? O Never O When future benefits exist O Always O If the amount is material A
Which of the following costs is a nonlease component for the lessee? Group of answer choices taxes maintenance insurance all of the above
e following statements about annuities are true? Ch hnuity due earns more interest than an ordinary ann
Complete the sentence: In a modified B/C (Benefit/Cost) Ratio... Select one: o a.disbenefits are put in the denominator. o b.M&O costs are put in the denominator. .M&O costs are put in the numerator. o d.benefits are subtracted from the costs.
1. Describe Defined Benefits Plan and Defined Contribution Plan. 2. What is the difference between Defined Benefit and Defined Contribution Plan?
An opportunity cost may be described as: a. a foregone benefit. b. a historical cost. c. a specialized type of variable cost. d. a specialized type of fixed cost.
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 obligation
Match each of the terms below with its definition. 1. Sunk cost a. Additional costs incurred from a course of action 2. Out-of-pocket cost b. Additional revenue from a course of action 3. Opportunity cost c. A future outlay of cash 4. Incremental cost d. Potential benefit lost from taking a course of action 5. Incremental revenue e. A cost that arises from a past decision and cannot be changed