Worldatwork Exam T7 Topic 2 Question 86 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 86
Topic #: 2

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?

ANet defined benefit liability (asset)

BAsset ceiling

CFair value

DNet present value

Show Suggested Answer

Suggested Answer: A

by Pura at Apr 28, 2024, 09:41 AM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Candra

6 months ago

Because IAS 19 specifically uses the term 'Net defined benefit liability (asset)'.

upvoted 0 times

...

Callie

6 months ago

Why not C) Fair value though?

upvoted 0 times

...

Leonora

6 months ago

I think it's A) Net defined benefit liability (asset).

upvoted 0 times

...

Deangelo

6 months ago

Yes, it asks for the amount presented in the financial position.

upvoted 0 times

...

Candra

6 months ago

Right, the one about defined benefit plans?

upvoted 0 times

...

Callie

7 months ago

I saw a question about IAS 19.

upvoted 0 times

...