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  4. T7 - International Financial Reporting Standards for Compensation Professionals Exam

T7 Exam Dumps - International Financial Reporting Standards for Compensation Professionals Exam

Searching for workable clues to ace the WorldatWork T7 Exam? You’re on the right place! ExamCert has realistic, trusted and authentic exam prep tools to help you achieve your desired credential. ExamCert’s T7 PDF Study Guide, Testing Engine and Exam Dumps follow a reliable exam preparation strategy, providing you the most relevant and updated study material that is crafted in an easy to learn format of questions and answers. ExamCert’s study tools aim at simplifying all complex and confusing concepts of the exam and introduce you to the real exam scenario and practice it with the help of its testing engine and real exam dumps

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Question # 9

Which of the following is the best description of liquidity?

A.

The historical cost of an asset

B.

The fair value of an asset

C.

The ease of converting a noncash asset to cash

D.

Liabilities, minus equity

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Question # 10

What is the reconciliation of the beginning and ending balances of stockholders’ equity accounts called?

A.

Statement of Financial Position

B.

Statement of Income

C.

Statement of Cash Flows

D.

Statement of Stockholders’ Equity

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Question # 11

Which of the following is true of liabilities?

A.

Current liabilities come due in less than a year

B.

Current liabilities come due in less than 18 months

C.

Noncurrent liabilities come due in less than a year

D.

Both current and noncurrent liabilities come due in less than a year

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Question # 12

IAS 19 requires that all numbers involved in accounting for defined benefit plans be presented as a single amount in the statement of financial position. What is this amount called?

A.

Net defined benefit liability (asset)

B.

Asset ceiling

C.

Fair value

D.

Net present value

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Question # 13

Companies desire more current assets than current liabilities. What is the difference between current assets and current liabilities called?

A.

Net income

B.

Total liabilities

C.

Net working capital

D.

Noncurrent liabilities

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