When a Plan Asks for Further Information, Supporting Documentation, or Test

question 14

Multiple Choice

When a plan asks for further information, supporting documentation, or test results, the claim becomes a(n) :

• A) claim attachment.
• B) claim edit.
• C) invalid claim.
• D) suspended claim.
• E) rejected claim.

Distinguish between accounting practices for contingencies under GAAP and IFRS.

Describe the treatment of short-term obligations expected to be refinanced.

Explain the proper accounting treatment for gain and loss contingencies.

Analyze and prepare journal entries for payroll and payroll taxes.