Which of the Following Criteria Is Not Required for the Recognition

question 62

Multiple Choice

Which of the following criteria is not required for the recognition of a liability for compensated absences under FASB ASC Topic 710?

• A) The amount of the obligation must be estimable.
• B) Payment of the obligation must be probable.
• C) Payment of the obligation will require the use of current assets.
• D) The compensation either vests with the employee or can be carried forward to subsequent years.

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Definitions:

Federal Employees

Employees of the federal government of a country, often enjoying different rights and benefits than private sector workers.

Strike

A work stoppage caused by the mass refusal of employees to work, typically to protest against terms of employment, working conditions, or other labor issues.

Wisconsin Public Sector

Refers to the portion of Wisconsin's economy that is controlled and operated by government entities, including state and local government jobs and services.

Collective Bargaining

A process where employers and representatives of employees negotiate terms of employment, including wages, hours, and working conditions.