Entity a Contributes to a Defined Benefit Superannuation Plan for Its

question 38

Multiple Choice

Entity A contributes to a defined benefit superannuation plan for its employees.It calculates the following: Present value of the obligation 12,286
Fair value of plan assets 11,500
786
The $786 represents:

• A) The expense to be recognised in the income statement.
• B) The asset to be recognised in the balance sheet.
• C) The liability to be recognised in the balance sheet.
• D) The revenue to be recognised in the income statement.
• E) The cash flow pertaining to the contributions made for the period.

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Definitions:

Social Characteristics

Social characteristics refer to the distinct features and qualities that define the structure and dynamics of a society, including its norms, values, and demographic attributes.

Interpret, Understand

To comprehend and give meaning to information, symbols, or actions.

Positive Behaviors

Actions that are beneficial, constructive, or productive in nature, often encouraged for their positive impact on individuals and societies.

Negative Influences

Negative Influences are factors or agents that can lead to detrimental effects on individuals' behavior, decisions, or well-being, steering them toward harmful paths.