If the Amount Paid to the Defined Contribution Fund by an Entity

question 17

Multiple Choice

If the amount paid to the defined contribution fund by an entity during the year is less than the amount payable in relation to service provided by employees, the entity must recognise:

• A) an asset for the unpaid contributions.
• B) a liability for the unpaid contributions.
• C) an expense for the unpaid contributions.
• D) a gain for the unpaid contributions.

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Definitions:

Risk Taking

The willingness to engage in behaviors or actions that entail a potential for loss or failure, with the expectation of achieving a significant reward.

Strong Organizational Cultures

Cultures within organizations characterized by shared values, beliefs, and practices that strongly influence the behavior of its members.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors.

Fit Perspective

An approach that emphasizes the alignment or congruence between an individual’s attributes and the requirements of their role or organizational culture.