GAAP Relating to Compensated Absences

question 71

Multiple Choice

GAAP relating to compensated absences

• A)applies to items such as vacation pay, severance pay, sick pay, and other long-term fringe benefits
• B)establishes the same accruing standards for vacation pay, holiday pay, and sick pay
• C)requires the use of current pay rates to accrue for compensated absences
• D)does not require the accrual of accumulated nonvested sick pay

---

Definitions:

Saturated Fats

Fatty acids found in animal fats and some vegetable oils, known for being solid at room temperature.

Unsaturated Fats

A type of fat containing one or more double bonds in its hydrocarbon chains, considered healthier than saturated fats, found in vegetable oils, nuts, and seeds.

Linoleic Acid

An essential fatty acid found in many vegetable oils, necessary for healthy human nutrition.

Ethnic Food Choices

Food preferences that are influenced by cultural, religious, or traditional backgrounds.