Worldatwork T7 International Financial Reporting Standards for Compensation Professionals Exam Practice Test

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Total 89 questions

Question 1

When does a present obligation exist?



Answer : B

Question 2

Why is accounting for short-term employee benefits generally a straightforward process?



Answer : A

Question 3

Profit-sharing and bonuses are an example of which kind of employee benefits?



Answer : D

Question 4

Defined contribution plans are an example of which kind of employee benefits?



Answer : B

Question 5

Paid annual leave and paid sick leave are examples of which kind of employee benefits?



Answer : A

Question 6

When the quality of information confirms users' earlier expectations, which characteristic is being represented?



Answer : C

Question 7

Identify the characteristic being employed when companies in the same industry are using the same accounting principles.



Answer : A

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Total 89 questions