Question 44 Below are example of (Fill in the blank) • Revenue per Employee • Expense per Employee • Compensation as a Percentage of Revenue • Compensation as a Percentage of Expense • Benefit Cost as a Percentage of Revenue • Benefit Cost as a Percentage of Expense • Benefit Cost as a Percentage of Compensation • Retiree Benefit Cost per Retiree • Retiree Benefit Cost as a Percentage of Expense • Hires as a Percentage of Total Employees • Cost of Hire • Time to Fill Jobs • Time to Start Jobs • HR Department Expense as a Percentage of Company Expense
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- When is employee compensation referred to as variable pay? 0 a. when employee pay is comprised of varying component O b. when employer costs vary with the incentives offered O C. when employee pay varies with market pay when employee pay is linked to performance O d.Look at Note 31.2, “Retirement Benefits.” AF incorporates estimates regarding staffturnover, life expectancy, salary increase, retirement age, and discount rates. Howdid AF report changes in these assumptions? Is that reporting method the same ordifferent from the way we report changes under U.S. GAAP?Q46 When the cost of acquiring is incurred on selecting, training and developing an employee that allow changes in hiring the employee with equivalent ability and talent in comparison to the existing employee then it refers to-------------- cost or approach. a. Historical cost b. Replacement cost c. Opportunity cost d. Standard cost
- Statement 1: For a rank and file employee, excess de minimis benefits shall form part of his taxable regular compensation. Statement 2: For a managerial employee, excess de minimis benefits shall form part of his 13th month pay and other benefits. A. Both statements are true B. Both statements are false C. Only statement 1 is true D. Only statement 2 is trueChoose the letter of correct answer. The topic is about employee benefits a. 200,000b. 100,000c. 50,000d. 0(see attached pic for the problem) 1. Compute the employee benefit expense for the current year.
- What is the employee benefit expense for the current year? 1 300 000 1 050 000 1 500 000 1 100 000 What is the projected benefit obligation at year-end? 5 650 000 6 650 000 6 400 000 6 450 000Under IAS 19 Employee Benefits, how is actuarial gain or loss handled? amount falling outside the corridor is amortized over the remaining service life of employees and is taken to the profit or loss. recognized in full in other comprehensive income. amount falling outside the corridor is amortized over the remaining service life of employees and is taken to the other comprehensive income. recognized in full in profit or loss.CHOOSE THE LETTER OF THE CORRECT ANSWER What is the employee benefit expense for the current year? a. 1,180,000b. 2,100,000c. 1,850,000d. 1,050,000 What is the remeasurement gain or loss on plan assets on Dec. 31? a. 670,000 gainb. 670,000 lossc. 650,000 gaind. 650,000 loss
- When referring to employee earnings, gross pay is the total amount of an employee’s pay before deductions. Select one: True FalseFASB ASC 715–60: Compensation–Retirement Benefits–Defined Benefit Plans–Other Postretirement (previously Statement of Financial Accounting Standards No. 106) establishes accounting standards for postretirement benefits other than pensions, most notably postretirement health care benefits. Essentially, the standard requires companies to accrue compensation expense each year employees perform services, for the expected cost of providing future postretirement benefits that can be attributed to that service. Typically, companies do not prefund these costs for two reasons: (a) unlike pension liabilities, no federal law requires companies to fund nonpension postretirement benefits and (b) funding contributions, again unlike for pension liabilities, are not tax deductible. (The costs aren’t tax deductible until paid to, or on behalf of, employees.) Required: 1. As a result of being required to record the periodic postretirement expense and related liability, most companies now report lower…An experience rating, or merit rating a. directly adjusts the benefit amount the unemployed individuals receive. b. adjusts the SUTA paid based on an individual's unemployment experience. c. adjusts an employer's SUTA contributions due to a favorable employment record. d. adjusts the FUTA contributions due to an unfavorable employment record.