Which of the Following Is ?Not Considered Compensated Absences Under

question 15

Multiple Choice

Which of the following is ?not considered compensated absences under AASB 119 "Employee Benefits"?

• A) Sick leave
• B) Annual leave
• C) Long service leave
• D) Sabbatical leave
• E) None of the given answers

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Definitions:

Financial Liabilities

Obligations that require a company to pay money or deliver financial assets to another entity in the future.

Financial Guarantees Contracts

Contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payment when due.

Derivatives

Financial securities whose value is derived from the value of an underlying asset or benchmark.

AASB 9

The Australian Accounting Standards Board standard covering the classification, measurement, and recognition of financial assets and financial liabilities.