Which of the Following Statements Is True of IAS 19

question 17

Multiple Choice

Which of the following statements is true of IAS 19?

• A) It establishes guidance for measuring onerous contract.
• B) It requires all past service costs to be recognized in net income in a subsequent period in which the benefit plan is changed.
• C) Its revised version became effective in the year 2013.
• D) It covers all employee benefits including share-based compensation.

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Definitions:

Optimal Pollution Control

The regulation of pollution to maximize social welfare by balancing the costs of pollution control against the benefits of reducing pollution.

Economists

Professionals who study how societies use scarce resources to produce valuable goods and services and distribute them among different people.

Positive Externalities

Benefits that are enjoyed by a third-party or the society at large as a result of an economic transaction, but these benefits are not reflected in the market price.

Resource Problem

The economic issue of having limited resources to satisfy unlimited wants and needs, necessitating choices and priorities in allocation.