Under PAS 19, which of the following statement is true? I. Current service cost is the increase in the present value of the defined benefit obligation resulting from employee service in the current period. II. Past service cost in the increase in the present value of the defined benefit obligation for employee service in prior periods, resulting in the current period from the introduction or amendment of a defined benefit plan. II. Interest cost is the increase in the present value of the defined benefit obligation which arises because benefits are one period closer to settlement O Il and III only O I, Il and III O I and III only O I and Il only

Under PAS 19, which of the following statement is true? I. Current service cost is the increase in the present value of the defined benefit obligation resulting from employee service in the current period. II. Past service cost in the increase in the present value of the defined benefit obligation for employee service in prior periods, resulting in the current period from the introduction or amendment of a defined benefit plan. II. Interest cost is the increase in the present value of the defined benefit obligation which arises because benefits are one period closer to settlement O Il and III only O I, Il and III O I and III only O I and Il only

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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