For Each of the Following, Identify in Column 1 the Category

question 133

Essay

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement in which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
- $$\begin{array} { | l | l | l | l | l | } \hline & \text { Column 1 } & \text { Column 2 } & \text { Column 3 } & \text { Column 4 } \\\hline \text { Cash in bank } & & & & \\\hline\end{array}$$

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Definitions:

Compensated Absences

Employee benefits that provide pay for holidays, sick leave, and other forms of absence from service that are compensated by the employer.

AASB 119

The Australian Accounting Standards Board standard which outlines the accounting requirements for employee benefits, including wages, salaries, and pension plans.

Defined Benefit Post-Employment Fund

A pension plan where the benefits that an employee will receive upon retirement are defined in advance.

Remeasurements

Accounting adjustments made to reflect changes in the fair value of certain assets or liabilities.