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Worldatwork Exam T7 Topic 3 Question 104 Discussion

Actual exam question for Worldatwork's T7 exam
Question #: 104
Topic #: 3
[All T7 Questions]

Why is accounting for short-term employee benefits generally a straightforward process?

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Suggested Answer: C

by Kiley at Dec 08, 2024, 02:43 PM

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Sabina
3 months ago
I bet the person who wrote option D works in a really complicated accounting department. A is the simple and straightforward answer we're looking for.
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Kathrine
1 months ago
Exactly, no need to overcomplicate things with unnecessary assumptions.
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Tayna
1 months ago
Definitely, the simpler the better when it comes to accounting.
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Ula
1 months ago
I agree, option A is definitely the straightforward choice.
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Wade
1 months ago
Option A) Because no actuarial assumptions are required to measure the obligation or cost and there is no possibility of any actuarial gain or loss
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Hayley
3 months ago
Haha, short-term benefits without actuarial assumptions? That's like the accounting version of a cheat code. A all the way, easy peasy!
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Krissy
2 months ago
It's nice when accounting is easy, right? A for sure.
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Mendy
3 months ago
Yeah, short-term benefits are pretty straightforward. A is the way to go.
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Muriel
3 months ago
I agree, A is definitely the right choice. No need for complicated calculations.
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Wilda
4 months ago
D? Really? Incorporating actuarial assumptions for short-term benefits? That sounds like way more work than necessary. A is the way to go, no doubt.
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Ernestine
2 months ago
B) Because short-term employee benefit obligations are measured on a discounted basis
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Aileen
2 months ago
C) Because short-term employee benefits are not provided in exchange for the service of the employee
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France
3 months ago
A) Because no actuarial assumptions are required to measure the obligation or cost and there is no possibility of any actuarial gain or loss
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Luis
4 months ago
Hmm, I was leaning towards B, but I guess discounting short-term benefits doesn't make sense since they're usually paid out soon anyway. A seems like the clear winner here.
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Celestina
3 months ago
User 2: Yeah, A makes sense because there are no actuarial assumptions needed for short-term benefits.
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Bulah
3 months ago
User 1: I think A is the right answer.
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Gail
4 months ago
I disagree. I believe accounting for short-term employee benefits is straightforward because they are measured on a discounted basis.
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Virgina
4 months ago
I think the correct answer is A. Short-term employee benefits don't require actuarial assumptions, which makes the accounting process straightforward. No risk of actuarial gains or losses either.
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Arlie
2 months ago
Yes, that's why there's no possibility of actuarial gains or losses.
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Janna
2 months ago
I think it's because short-term benefits are not tied to actuarial assumptions.
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Maia
3 months ago
That's right, it's a simple process without the need for complex calculations.
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Cassi
3 months ago
I agree, short-term employee benefits don't involve actuarial assumptions.
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Pete
4 months ago
I agree with Malinda. Short-term employee benefits are not provided in exchange for the service of the employee, so it's easier to measure the obligation.
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Malinda
4 months ago
I think accounting for short-term employee benefits is straightforward because no actuarial assumptions are required.
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