tbch17 - C HAPTER 17 Employee CompensationPayroll,...

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Unformatted text preview: C HAPTER 17 Employee CompensationPayroll, Pensions, and Other Compensation Issues M ULTIPLE C HOICE Q UESTIONS Theory/Definitional Questions 1 Why report earned but unused compensated absences as liabilities 2 FASB Statement No. 43--criteria for recognizing liabilities for compensated absences 3 FASB Statement No. 43--treatment of sick days 4 Components of the employers payroll tax expense 5 Components of the employers payroll tax expense 6 Taxes paid by both the employer and the employee 7 GAAP treatment of earned but unused paid vacations 8 Characteristics of defined contribution plans 9 Characteristics of defined benefit plans 10 Issues in accounting for defined benefit plans 11 FASB Statement No. 87--concept of minimum pension liability 12 Recognition of value of pension fund assets and projected benefit obligation 13 Purpose of minimum liability requirement 14 Definition of accumulated benefit obligation 15 FASB Statement No. 87--elements of minimum liability computation 16 Deferred gain--actual return on pension assets is greater than expected 17 Projected benefit obligation as a measure of pension obligation 18 FASB Statement No. 87--treatment of prior service costs 19 Components of net periodic pension cost 20 FASB Statement No. 87--treatment of transition gains/losses 21 Service cost calculated using future compensation levels 22 FASB Statement No. 87--reconciliation of funding status included in notes 23 Definition of vested benefits 24 Components of net pension cost for defined benefit plan 25 Comparison of concepts--pensions vs. postretirement benefits 26 Methods associated with accounting for postretirement benefits 27 Determining the interest cost component for postretirement benefits 28 International accounting standards for pensions 29 International accounting standards for pensions 131 132 Chapter 17 Employee CompensationPayroll, Pensions, and Other Compensation Issues Computational Questions 30 Computation of bonus amount based on income 31 Computation of bonus amount based on income 32 Computation of earnings considering taxes 33 Computation of earnings considering taxes 34 Computation of liability amount for compensated absences 35 Computation of service cost 36 Computation of actual return on plan assets 37 Computation of postretirement benefit liability 38 Computation of total pension liability 39 Computation of prepaid pension cost 40 Computation of net gain/loss component of pension cost 41 Computation of projected benefit obligation 42 Computation of actual return on plan assets 43 Determination of accrued pension cost 44 Computation of minimum amortization for prior service costs 45 Computation of net periodic pension cost 46 Computation of net periodic pension cost 47 Computation of pension expense for the period 48 Computation of total pension liability 49 Computation of pension expense for the period 50 Computation of net pension liability 51 Computation of intangible asset balance 52 Computation of prepaid pension cost...
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tbch17 - C HAPTER 17 Employee CompensationPayroll,...

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