Which of the Following Statements Is Not in Accordance with AAS

question 23

Multiple Choice

Which of the following statements is not in accordance with AAS 25 "Financial Reporting by Superannuation Plans"?

• A) Assets of a defined contribution plan and a defined benefit plan is measured at net market values as at the reporting date.
• B) Obligations for accrued benefits of a defined benefit plan should be discounted to their present value, but there is no requirement to discount other liabilities at the reporting date.
• C) For a defined contribution plan the change in net market values of the plan's financial liabilities since the beginning of the reporting period is included in the profit or loss for the reporting period.
• D) For a defined benefit plan the change in net market values of the plan's financial liabilities since the beginning of the reporting period included equity for the reporting period.
• E) None of the given answers.

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Definitions:

IUD

An intrauterine device, a small contraceptive device inserted into the uterus to prevent pregnancy.

Birth Control

Methods, devices, or medications used to prevent pregnancy, allowing individuals or couples to determine the timing and spacing of childbirth.

HAART

Highly Active Antiretroviral Therapy, a treatment regimen for HIV/AIDS that uses a combination of several antiretroviral drugs to suppress the virus and stop the progression of the disease.

HIV Infection

A viral infection caused by the human immunodeficiency virus (HIV) that progressively weakens the immune system, potentially leading to acquired immunodeficiency syndrome (AIDS).