Quiz Summary
0 of 12 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 12 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- IAS 26 – Accounting and Reporting by Retirement Benefit Plans 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 12
1. Question
The financial statements shall explain the relationship between the actuarial present value of promised retirement benefits and the net assets available for benefits, and the policy for the funding of promised benefits.
CorrectIncorrect -
Question 2 of 12
2. Question
What does the payment of promised retirement benefits depend on under a defined benefit plan?
CorrectIncorrect -
Question 3 of 12
3. Question
Which of the following is not the actuary’s role with regard to a defined benefit plan?
CorrectIncorrect -
Question 4 of 12
4. Question
Projected salary rates may be calculated using the present value of the expected payments by a retirement benefit plan up to the time of retirement of participants.
CorrectIncorrect -
Question 5 of 12
5. Question
Which of the following is the reason for adopting current salary approach in calculation of present value of the expected payments by a retirement benefit plan?
CorrectIncorrect -
Question 6 of 12
6. Question
Which of the following is not the reason for adopting a projected salary approach in calculation of Present value of the expected payments by a retirement benefit plan?
CorrectIncorrect -
Question 7 of 12
7. Question
The actuarial present value of promised retirement benefits based on current salaries is disclosed in the financial statements of a plan to indicate __________.
CorrectIncorrect -
Question 8 of 12
8. Question
In many countries, actuarial valuations are not obtained more frequently than ________ .
CorrectIncorrect -
Question 9 of 12
9. Question
Retirement benefit plan investments shall be carried at __________.
CorrectIncorrect -
Question 10 of 12
10. Question
Which of the following shall be included in the financial statements of a retirement benefit plan, whether defined benefit or defined contribution?
CorrectIncorrect -
Question 11 of 12
11. Question
Which of the following shall be shown in a statement of changes in net assets available for benefits?
CorrectIncorrect -
Question 12 of 12
12. Question
Entity X operates a defined contribution pension plan for its employees. The company’s contribution rate to the pension fund is 5% of gross salaries. During the year ended 31 December 20X1, gross salaries amounted to $3 million. For convenience, a regular amount of $10,000 was transferred monthly into the pension fund by the company, with the balance being paid by the company in January 20X2.
What amount shall be included in the Statement of Profit or Loss of Entity X for the year ended 31 December 20X1 with respect to a defined contribution pension plan?CorrectIncorrect