It Is Not True in Relation to IAS 19/AASB 119

question 26

Multiple Choice

It is not true in relation to IAS 19/AASB 119 'Employee Benefits' that:

• A)Employee benefits include wages and salaries,non-monetary fringe benefits,annual leave and superannuation
• B)The principles for recognition of employee benefits as expenses or liabilities are consistent with those in the Conceptual Framework
• C)Wages and salaries,annual leave and sick leave are to be reported at their nominal amounts
• D)The controls that need to be provided when operating a payroll system are outlined

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Definitions:

Ulterior Motives

Hidden or secret reasons behind an action or behavior.

Psychological Laboratory

A controlled environment where experiments are conducted to study psychological phenomena.

Wilhelm Wundt

Often considered the father of modern psychology, he established the first psychology laboratory at the University of Leipzig in Germany.

Jean Piaget

A Swiss psychologist known for his pioneering work in child development and his theory of cognitive development.