Worldatwork Exam T7 Topic 2 Question 86 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 86
Topic #: 2

[All T7 Questions]

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

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Candra

9 months ago

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

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Callie

9 months ago

Why not C) Fair value though?

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Leonora

9 months ago

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

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Deangelo

10 months ago

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

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Candra

10 months ago

Right, the one about defined benefit plans?

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Callie

10 months ago

I saw a question about IAS 19.

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