T7 Practice Exam Questions with Answers International Financial Reporting Standards for Compensation Professionals Exam Certification

A statement of cash flows provides information on which of the following primary business activities of a company?

In a defined contribution benefit plan, who assumes risk?

To estimate how much the employees have earned for their work in the current and prior periods in order to attribute the benefit to the periods of service and to incorporate estimates about demographics and financial variables into calculations, a company must utilize what method?

Recognition of revenue when earned and the matching of expenses when incurred describes which of the following practices?

Profit-sharing and bonuses are an example of which kind of employee benefits?

Which of the following describes the concerns of Level 3 of the conceptual framework for financial reporting?

What are balanced sheets and income statements linked by?

When the quality of information confirms users’ earlier expectations, which characteristic is being represented?