Worldatwork Exam T7 Topic 1 Question 98 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 98
Topic #: 1

When a company consumes the economic benefit arising from service provided by an employee in exchange for employee benefits, what is it considered in accounting terms?

AThe employee value proposition

BAn expense

CA benefit

DA cost

Show Suggested Answer

Suggested Answer: B

by Levi at Sep 16, 2024, 09:44 AM

Limited Time Offer

25%

Off

Get Premium T7 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Lettie

4 months ago

I agree with Malika, it makes sense that it would be considered an expense in accounting terms.

upvoted 0 times

...

Tawna

4 months ago

B) An expense. Unless the employee is a superhero, in which case it might be considered a 'super' benefit.

upvoted 0 times

Launa

3 months ago

D) A cost

upvoted 0 times

...

Skye

3 months ago

C) A benefit

upvoted 0 times

...

Fallon

3 months ago

B) An expense

upvoted 0 times

...

Malika

4 months ago

I think it's B) An expense because the company is using resources to provide benefits to employees.

upvoted 0 times

...

Kattie

4 months ago

B) An expense

upvoted 0 times

...

Alaine

4 months ago

B) An expense, my friend. You can't get something for nothing in the world of accounting!

upvoted 0 times

...

Gregg

4 months ago

D) A cost. The company is paying for the employee's services, so it's a cost, not a benefit.

upvoted 0 times

Shonda

3 months ago

C) A benefit

upvoted 0 times

...

Shawana

3 months ago

D) A cost

upvoted 0 times

...

Keva

3 months ago

B) An expense

upvoted 0 times

...

Van

4 months ago

B) An expense, of course! The company is exchanging employee benefits for the economic benefit, so it's a clear expense on their books.

upvoted 0 times

Leatha

4 months ago

D) A cost

upvoted 0 times

...

Veronika

4 months ago

C) A benefit

upvoted 0 times

...

Erick

4 months ago

A) The employee value proposition

upvoted 0 times

...

Brandee

4 months ago

B) An expense, of course! The company is exchanging employee benefits for the economic benefit, so it's a clear expense on their books.

upvoted 0 times

...