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T7 Exam Dumps : International Financial Reporting Standards for Compensation Professionals Exam

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International Financial Reporting Standards for Compensation Professionals Exam Questions and Answers

Question 1

To estimate how much the employees have earned for their work in the current and prior periods in order to attribute the benefit to the periods of service and to incorporate estimates about demographics and financial variables into calculations, a company must utilize what method?

Options:

A.

Re-measurement method

B.

Fair value method

C.

Net present value method

D.

Projected unit credit method

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Question 2

Neutral and complete are ingredients of which of the following fundamental characteristics of accounting information?

Options:

A.

Faithful representation

B.

Relevance

C.

Predictive value

D.

Comparability

Question 3

What is the purpose of an income statement?

Options:

A.

To show liability and equity and the manner in which those funds are employed

B.

To account for changes in cash during the accounting period

C.

To show details of the nature of a company’s operating activities

D.

To reconcile the beginning and ending balances of stockholders’ equity