The Major Difference in Accounting for Pensions Under ASPE and IFRS

question 78

Multiple Choice

The major difference in accounting for pensions under ASPE and IFRS is

• A) ASPE allows two approaches for accounting, immediate recognition approach and the deferral and amortization approach and IFRS only allows the immediate recognition approach.
• B) IFRS requires use of an actuarial and ASPE does not for calculation pension plans.
• C) ASPE includes the entire pension expense in net income and IFRS includes actuarial gains and losses as well as remeasurements in OCI.
• D) IFRS includes the entire pension expense in net income and ASPE includes actuarial gains and losses as well as remeasurements in OCI.

Grasp the history and evolution of psychology as a distinct field from philosophy.

Acknowledge the significance and purposes of ethical considerations in psychological research.

Comprehend the differences between basic and applied research in psychology.

Recognize common biases and issues within psychological research, including the reliance on specific samples and the replication crisis.

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Definitions:

Bonus

Additional compensation given to employees or stakeholders beyond the standard payment expectations.

Ownership Interest

The proportion of a company or property owned by an individual or entity, often represented as a share of equity.

Capital Balances

The amounts of money invested by owners or shareholders in a company, reflecting the net assets owned by the investors.

Profit Sharing

A company policy of distributing a portion of its profits to its employees as a form of bonus or incentive.