Answered: The entity’s monthly contributions to…

The entity’s monthly contributions to the SSS for the benefit of its employees are accounted for as defined benefit plans. a. True b. False

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 13E

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Question

The entity’s monthly contributions to the SSS for the benefit of its employees are accounted for as defined benefit plans.

a. True

b. False

According to PAS 19, contributions to a defined contribution plan are recognized

a. at each year-end

b. where an employer makes those contributions

c. when an employee has rendered service in exchange for those contributions

d. at the beginning of each reporting period

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