2 Which statement regarding liabilities is NOT correct under the IFRS Framework?   Question 2 options:   A reliable estimate for an asset is presumed to exist.   A provision exists if the amount of payment is uncertain.   A reliable estimate for a liability is presumed to exist.   A provision exists if the timing of payment is uncertain.

21 Hobbiton Tours Ltd. has the following details related to its defined benefit pension plan as at December 31, 2024: Pension fund assets of $1,900,000 and Actuarial obligation of $1,806,317. The actuarial obligation represents the present value of a single benefit payment of $3,200,000 that is due on December 31, 2030, discounted at an interest rate of 10%; i.e. $3,200,000 / 1.106 = $1,806,317. Funding during 2025 was $55,000. The actual value of pension fund assets at the end of 2025 was $2,171,000. As a result of the current services received from employees, the single payment due on December 31, 2030, had increased from $3,200,000 to $3,380,000. Required1.    Compute the current service cost for 2025 and the amount of the accrued benefit obligation at December 31, 2025. Perform this computation for an interest rate of 10%.2.    Derive the pension expense for 2025 under various assumptions about the expected return and discount rate. Complete the following table (with supporting…

No ai Which entry is correct for recording revenue earned on account?A. Debit Cash, Credit RevenueB. Debit Revenue, Credit Accounts ReceivableC. Debit Accounts Receivable, Credit RevenueD. Debit Unearned Revenue, Credit Cash