Under IAS 19 on Employee Benefits, which of the following terms best describes other long-term employee benefits

Q: Which of the following is not a requirement for expense reimbursements to be an accountable plan?…

A: Reimbursement plan complies with IRS regulations, according to IRS regulations, a reimbursement plan…

Q: Which of the following payments will be subject to Canada Pension Plan contributions?

A: Pension is the amount which is given to the employee post retirement and for which the same employee…

Q: A new employer will be assigned a SUTA contribution rate: a.  will be different for all new…

A: The correct answer is Option (d).

Q: Which of the following is not considered insurable eamings and therefore not reported in block 158…

A: Retiring allowance: A retiring allowance is a lump-sum payment made to an employee upon retirement…

Q: Which of the following statements are true? When an employee has rendered service to an entity…

A: PFRS 19 talks about Recognition, Measurement, and Disclosure of Employee Benefits in financial…

Q: A company currently offers it’s employees a defined benefit pension plan, but is looking into…

A: Defined Benefit pension plan A defined-benefit plan is an employer-sponsored retirement plan where…

Q: Benefits paid to members of a defined benefit p employment fund are based onil. investment returns…

A: An employee's retirement benefits under a defined benefit pension plan are determined by a formula…

Q: Under IAS 19 Employee Benefits, how is actuarial gain or loss handled?   amount falling outside…

A: IAS 19 deals with the employee benefits. It includes the pension, benefit plans and gratuity etc.

Q: Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise.…

A: A cost-benefit analysis, assesses the benefits a new hire can bring to the company and consider this…

Q: Which of the following types of employee benefits are not covered by AASB 119/IAS 19?

A: The correct answer is: (D) Share- based payments. Because AASB 119/AS 19 are related to employee…

Q: 59. What is a contractual adjustment? a. An adjusting entry made at year-end to accrue unpaid…

A: A Contractual Adjustment is a part of a patient's bill that hospital must write-off (not charge for)…

Q: re limited to an annual benefit to an employee of the lesser of $58,000 or 100% of the employee's…

A: Defined Pension Plan - A defined benefit pension plan is a type of pension arrangement in which the…

Q: What is included in the journal entry to record the employer amount of the payroll? Assume gross…

A: Solution- Payroll journal entries are used to record the compensation paid to employees. These…

Q: 22 What must an employer disclose in a defined contribution plan? The amount to be paid by the…

A: A Defined Contribution Plan is a retirement savings arrangement where employers and employees…

Q: Statement 1: For a rank and file employee, excess de minimis benefits shall form part of his taxable…

A: As per Bartleby guidelines, since you have asked 2 independent questions, only the first question…

Q: s recognized as a prior period adjustment  b. Is recognised immediately in profit or loss c. Is…

A: Past service cost refers to the change in the value of the fixed employee benefit plan of an…

Q: at is the journ

A: Journal entries typically include the date of the transaction, the accounts involved, the amounts…

Q: Under RA 7641, which is a correct requirement in order that a retirement benefit shall be excluded…

A: The retirement pay may include pension and other benefits which are subject to tax. But this payment…

Q: Determine whether each of the following independent statements best applies to a defined…

A: Tax:   A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization…

Q: Which of the following statements describe short-term employee benefits? They are measured at a…

A: Short-term benefits are those benefits which are payable within twelve (12) months after the end of…

Q: Under a qualified pension plan, I. the yearly earnings on the pension plan assets are taxable income…

A: Introduction Pension plan assets are defined as the assets bought using contributions from pension…

Q: ABC Company determined that it has an obligation relating to employees' rights to receive salaries…

A: In the given question it is given that the payment for future absences is probable and at the year…

Q: Which of the following is not a period of employment for long service leave purposes?   A.…

A: The Long service leave is a leave at the normal rates given to an employee by the employer when the…

Q: Bianca Bicycle Company manufactures mountain bikes with a variable cost of $200. The bicycles sell…

A:

Q: Which one of these lists contain ALL items that are used when computing net employment income…

A: According to the Net Taxable Income, these steps needed to be followed: 1) Find Gross Annual Income…

Q: When determining the liability for compensated absences, the amount should be based on 1. an average…

A: A compensated balance is an employee time off pay that means an employee get compensated for the…

Q: Under a nonqualified pension plan, I. the yearly earnings on the pension plan assets are taxable…

A: Non qualified  Pension Plan are Non qualified because it does not comply with Employee Retirement…

Q: The vested benefits are employee benefits that are not conditional on future employment. benefits…

A: Solution: The vested benefits are "employee benefits that are not conditional on future employment."…

Q: The Employee Retirement Income Security Act (ERISA) was established to provide:   Question 16…

A: The Employee Retirement Income Security Act (ERISA) is a federal law that sets minimum standards for…

Q: In a defined-benefit plan, a formula is used that Select one: a. requires that the benefit of gain…

A: A defined benefit plan is the plan which is contributed by the employer on behalf of the employee to…

Q: Choose three of the following changes that may be negotiated in a collective agreement and provide…

A: Example: Negotiating a 3% increase in base salaries for all employees.Impact on the payroll…

Q: The maternity leave pay under RA 11210, otherwise known as the 105-Day Expanded Maternity Leave Law,…

A: Solution Maternity leave means leave given to a women when she is pregnant and have a baby.

Q: The maternity benefit of the female employee under RA 11210, otherwise known as the 105-day Expanded…

A: Under the Expanded Maternity Leave Law RA 11210, the SSS pays to the qualified SSS members : cash…

Q: Statement 1: The excess over the limit of de minimis benefits given to a rank and file is gross…

A: De minimis fringe benefits are benefits extended by employer to employee. These benefits are so…

Q: Which of the following is true about plan assets? Any excess return on plan assets are earned to…

A: Plan assets refer to the form of assets that are held onto by the owner for long-term employee…

Q: Employee benefits given by an employer to an employee may be recognized by the employer as I.Asset…

A: The financial statements of the business include the income statement and balance sheet of the firm.

Q: Which is not part of de minimis benefits

A: De minimis benefits are facilities are privileges offered by employer to employees.

Q: Vested benefits    a. Usually require a certain minimum number of years of service b. Are those that…

A: As per IAS 19  Vested benefits are those benefits provided to employment if they work for certain…