Which of the following cases would result in an actuarial loss? Projected benefit obligation decreased. Projected benefit obligation increased. Fair value of plan assets increased. Fair value of plan assets decreased.

Q: one or more of the following statements are characteristics of assets: a. a probable future benefit…

A: Assets are those resources whether tangible or intangible, current or fixed have an economic value…

Q: Which of the following statements is true regarding capitalization of interest? O When excess…

A: The cost of borrowing to acquire or build a long-term asset is referred to as capitalized interest.…

Q: The measurement of revaluation model is at: Fair value at the date of acquisition less any…

A: As per the INTERNATIONAL ACCOUNTING STANDARD Revaluation concept the measurement of Revaluation…

Q: When the fair value of plan assets is multiplied with a discount rate, an interest expense arise.…

A: Interest expense is determined by multiplying the discount rate with the start of the period by the…

Q: Decreases in the projected benefit obligation due to an increase in interest rate are called (enter…

A: A projected benefit obligation (PBO) is an actuarial measurement of what a company will need at the…

Q: If the “fair value less cost to sell” of a noncurrent asset held for sale is lower than its carrying…

A: Impairment of an asset is required when there are indication that an impairment loss may have…

Q: a) Why would a DRC (Depreciated Replacement Cost) valuation not normally be acceptable for secured…

A: When the physical deterioration or any other obsolescence of the assets is deducted from the current…

Q: Choose the correct.For which of the following does IFRS for SMEs not provide a simplification of…

A:

Q: When an impairment loss occurs, the carrying amount of the asset should be reduced to its   a) ©…

A: Impairment: It implies to an increase in the fixed asset's carrying value in relation to the price…

Q: Which of the following is not a condition that must be satisfied before interest capitalization can…

A: Capitalized Interest: Interest is usually paid on the amount borrowed and it is shown as an expense…

Q: Explain how electing the fair value option and how impairment recognition affectaccounting for…

A: Definition: Impairment: It is a situation that arises when the carrying value of the investment…

Q: ing the investment is appropriately recognized as financial assets at amortized cost: Determine the…

A: Initial investment is the amount required to start a business or a project. It is also called…

Q: Which of the following is not a condition that must be satisfied before interest capitalization can…

A: Option b is the correct answer because the other three options are the conditions that should be…

Q: Which of the following items is irrelevant in determining the relevant cost of acquisition in…

A: Capital budgeting: capital budgeting is a decision making method done by management accountants in…

Q: When a group of assets is acquired for a lump sum price, the total cost should be allocated to the…

A: As per IAS 16 Property plant and equipment, When a group of assets are acquired for a lumpsum…

Q: Which of the following is not part of the definition of an asset  O a. Control of a resource  O b.…

A: Asset can be defined as a resource controlled by the entity as a result of past events from which…

Q: Depreciation is a valuation process that results in the report-ing of the fair value of the asset.”…

A: Depreciation is a form of non-cash expenditure which represents the normal wear & tear and…

Q: After recognition, exploration and evaluation assets are accounted for under the cost model…

A: There are two methods are prescribed by IAS 16 Property, Plant and Equipment for acccount for the…

Q: Which of the following best describes the higher of an asset's net selling price and its value in…

A: Asset's net selling price is the amount obtainable from the sale of assets less any disposal cost.…

Q: What is the treatment of any gain on a subsequent increase in the fair value less cost of disposal…

A: Subsequent will increase in truthful price. A gain for associated consequent increase in truthful…

Q: All of the following are components of the defined benefit cost except   unvested past service…

A: Defined benefit cost includes: Service cost Expected return on plan assets Change in the effect of…

Q: When the fair value of plan assets is multiplied with a discount rate, an interest expense arise.…

A: There is mainly two types of accounts which are kept in the defined benefit plan.  One is Defined…

Q: Assets acquired ina lump-sum purchase are valued based on: a. Their assessed valuation. b. Their…

A: As per IAS 16, when more than one item of property, plant, and equipment is purchased for a…

Q: true or false A difference between expected results and actual experience results to a…

A: The question is related to Employee Benefits as specified in IAS 19.

Q: Depreciation is based on the fair value of assets. An impairment loss occurs if the carrying value…

A: GIVEN     Depreciation is based on the fair value of assets. An impairment loss occurs if…

Q: Which of the following subsequent expenditures would not be capitalized?

A: Ordinary repairs and maintenance expenditure would not be capitalized.

Q: Which of the following situations indicates that an asset is impaired?a. The net book value of the…

A: Impairment: It can be defined as a significant reduction in the recoverable value of the goodwill…

Q: Under IFRS, how are investment properties subsequently measured? a) The cost…

A: International Accounting Standard 40 on Investment states that the investment property should be…

Q: Is the nature of the gainor loss considered ordinary or long-term?

A: Ordinary gain or loss means any income which doesn't result as Capital gain or loss. Capital Gain or…

Q: Which of the following observations refers to the term differential? Select one: a. Excess of…

A: The question is multiple choice question and related to Consolidated Financial Statements. Required…

Q: How do U.S. GAAP and IFRS differ in their treatment of a range of equally likely losses?

A: Loss contingency: Loss contingency is a contingency where the existing situations or circumstances…

Q: What do you understand by Capital cost Allowances (CCA)? What is accelerated CCA? Also, can you…

A: Capital cost allowance   A capital cost allowance is a form of depreciation of a capital asset used…

Q: Under IFRS, the initial revaluation of equipment when book value exceeds fair value results in a. An…

A: As per International Financial Reporting Standards (IFRS), the company values the property, plant…

Q: Under PFRS 15, what is the measurement of consignment sales revenue? a. realizable value of…

A: Consignment revenue: Consignment is a trade  contract   where  goods are left   in the custody  of…

Q: 1. All of the following are components of the defined benefit cost except *   unvested past service…

A: Solution Note Dear student as per the Q&A guideline we are required to answer the first question…

Q: Which among the following suits best for Unearned revenue? a. Liability b. Expense c. Revenue d.…

A: Unearned Revenue: Unearned Revenue means money received from the customer in advance for the service…

Q: What is an impairment loss?   A ) The amount by which the carrying amount of an asset exceeds the…

A: An impairment loss is a recognized decrease in the par value of an asset caused by a deterioration…

Q: Under normal circumstances, will the carrying value of a long-term asset be equal to its market…

A: Assets are recorded at historical figures.

Q: According to PFRS 9, which of the following represents a cessation of a financial asset’s impairment…

A: According to the above question  option 1 is the correct answer.

Q: According to our authors, what is an unrealized gain and unrealized loss?

A: In a general view gains and losses are the outcomes of investing which are inevitable. A gain or…

Q: transaction costs

A: All financial assets are initially measured at fair value plus transaction costs, except C :- Fair…

Q: The fair value loss impairment model O calculates the impairment loss as the difference between the…

A: As per IFRS 9 on financial instruments the investment should record impairment as per the impairment…

Q: If the present value of the defined benefit obligation exceeds the fair value of the plan assets,…

A: solution concept If the present value of the defined benefit obligation exceeds the fair value of…

Q: If an entity wishes to change from a cost model to fair value model under IAS 40 – Investment…

A: IAS 40 is one of the accounting standard that is used for investment property. Investment property…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.