It Is Not True in Relation to IAS 19/AASB 119

question 4

Multiple Choice

It is not true in relation to IAS 19/AASB 119 Employee Benefits that:

• A) employee benefits include wages and salaries, non-monetary fringe benefits, annual leave and superannuation.
• B) the principles for recognition of employee benefits as expenses or liabilities are consistent with those in the Conceptual Framework.
• C) wages and salaries, annual leave and sick leave are to be reported at their nominal amounts.
• D) the controls that need to be provided when operating a payroll system are outlined.

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Definitions:

Decision Quality

The effectiveness of a decision based on its outcomes, taking into account the thoroughness of the decision-making process, including the gathering and evaluation of information.

Emotional Intelligence

The skill of recognizing, utilizing, and controlling one's own feelings in constructive manners to reduce stress, interact efficiently, connect with empathy towards others, tackle obstacles, and resolve disputes.

Consultative Decisions

Decision-making processes that involve seeking advice or opinions from others before reaching a conclusion.

Social Awareness

The ability to understand and respond to the needs and challenges of others in a societal context, fostering empathy and social cohesion.