T7 Exam Dumps - WorldatWork Certified Compensation Professional CCP Questions and Answers

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Questions 4

Which statement below most accurately describes a primary purpose of the International Accounting Standards Committee (IASC) Foundation?

Options:

Approves principles-based standards and informs International Accounting Standards Board (IASB) of implications of proposed standards

Oversees standards set for the public sector

Monitors International Accounting Standards Board (IASB)’s effectiveness, raise funds, approve budget, responsible for constitution

Provides advice to International Accounting Standards Board (IASB) on priorities

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Questions 5

Which of the following should be used when discounting a benefit in order to determine the present value of the defined benefit obligation and the current service cost?

Options:

Fair value

Time value of money

Net present value

The corporate vision

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Questions 6

What is the difference between the present value of defined benefit obligation and fair value of plan assets at the end of the reporting period called?

Options:

The financial position

The deficit or surplus

The discount

The present fair value

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Questions 7

Employee benefits that are expected to be settled wholly before twelve months after the end of the annual reporting people in which the employee rendered the related service are considered what kind of benefits?