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  21. An enterprise bargaining agreement results from an entity entering

Question :   21. An enterprise bargaining agreement results from an entity entering : 2102199

 

21. An enterprise bargaining agreement results from an entity entering into an agreement with:

a. its employees

b. the government

c. the relevant industry body

d. the relevant employee union

22. Employee benefits can be allocated to assets:

a. only if it relates to the cost of an internally generated intangible

b. where the entity is certain the future economic benefits will flow to it

c. in accordance with the requirements of other accounting standards

d. where they meet the definition of an asset under the Conceptual Framework

23. If the amount paid to the defined contribution fund by an entity during the year is less than the amount payable in relation to service provided by employees, the entity must recognise;

a. an asset for the unpaid contributions

b a liability for the unpaid contributions

c. an expense for the unpaid contributions

d. a gain for the unpaid contributions

24. The key steps involved in accounting by the employer for a defined benefit post-employment fund in accordance with AASB 119 include:

a. determining the deficit or surplus of the fund

b. determining the amount of the net defined benefit liability (asset)

c determining the amounts to be recognised in profit or loss for current service cost, any past service cost and net interest expense (income) on the net defined benefit liability (asset)

d. all of the options are correct

25. The nominal value of an accumulated benefit for long service leave is calculated as (Years of employment/Years required for LSL) x (weeks of paid leave/52) x ………..?

a. current salaries

b. projected salaries x (1+inflation rate)n

c. current salaries / (1+inflation rate)n

d. projected salaries

 

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