Which of the Following Statements Is INCORRECT

question 29

Multiple Choice

Which of the following statements is INCORRECT?

• A) Most pension plan employers report their pension assets or liabilities in the appropriate long-term classifications.
• B) An employer with two or more defined benefit plans is required to measure the benefit cost of each plan separately.
• C) IFRS specifies how the components of pension benefit costs are to be reported on the income statement.
• D) Underlying assumptions, such as how the expected return on plan assets is determined, are required to be disclosed.

---

Definitions:

Piece Rate Pay Systems

Compensation structures where employees are paid a fixed rate for each unit of production completed, often used to incentivize higher productivity.

Productivity

Measures the efficiency of production output in relation to the input used within a given period, commonly assessed in workplace and economic contexts.

Cooperation

The act of working together towards a common goal or purpose, often involving shared efforts or resources.

Unions

are organizations that represent the collective interests of workers, focusing on wage negotiation, work conditions, and benefits.