The Replacing of Controllable Costs with Non-Controllable Costs by a Department

question 78

Multiple Choice

The replacing of controllable costs with non-controllable costs by a department is:

• A) Budget slack.
• B) Cost shifting.
• C) Outsourcing.
• D) Discretionary-cost method.
• E) Engineered-cost approach.

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Definitions:

Actuarial Gains And Losses

These are the differences that result from changes in actuarial assumptions and the difference between expected and actual performance on pension plans and other post-retirement benefits.

IFRS

International Financial Reporting Standards are a set of accounting standards developed by the International Accounting Standards Board (IASB) that outline how financial statements should be prepared and disclosed globally.

Net Interest

The difference between the revenue from interests received on various investments and the expenses from paying interest on borrowings.

Defined Benefit Liability

The present value of the future retirement benefits that an employer has committed to pay to employees, as defined by their pension plan terms.