Worldatwork Exam T7 Topic 2 Question 99 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 99
Topic #: 2

[All T7 Questions]

What is the main objective of IAS 19?

ATo prescribe the accounting and disclosure for employee benefits

BTo prescribe the timing of payments

CTo draw a distinction between long and short term benefits

DTo draw a distinction between a defined contribution and defined benefit plan

Show Suggested Answer

Suggested Answer: A

by Louvenia at Sep 18, 2024, 09:30 PM

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Sunshine

8 months ago

I bet the answer is hidden in a footnote somewhere. That's how they get you, you know?

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Felicidad

8 months ago

Wait, wait, wait. What if the main objective is to ensure that employees actually get their benefits? That would be a real game-changer!

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Gilma

8 months ago

Hold on, are we sure this isn't a trick question? Maybe it's all about drawing distinctions between short and long-term benefits. You know, keeping the accountants on their toes.

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Amalia

8 months ago

Hmm, I'm not so sure. What if it's actually about the timing of payments? That could be a tricky one.

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Thersa

7 months ago

I'm not so sure about the timing of payments being the main objective. It seems more focused on employee benefits and plan distinctions.

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Evangelina

7 months ago

Actually, I think it's both A) To prescribe the accounting and disclosure for employee benefits and D) To draw a distinction between a defined contribution and defined benefit plan.

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Timothy

7 months ago

I believe it's more about drawing a distinction between a defined contribution and defined benefit plan.

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Kristin

7 months ago

I think the main objective of IAS 19 is to prescribe the accounting and disclosure for employee benefits.

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Maryanne

8 months ago

I don't know, guys. Option D looks pretty interesting to me. Defining the difference between contribution and benefit plans is kind of a big deal, you know?

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