Reference no: EM132888963

Problem 1: Disclosure is usually not required for

a. Contingent losses that are probable and can be reasonably measured.

b. Contingent gains that are probable and can be reasonably estimated.

c. Contingent losses that are remote and can be reasonably estimated.

d. Contingent losses that are reasonably possible and cannot be reasonably estimated.

Problem 2: Employees are entitled to 10 days holiday leave per year. Unused holiday leave may be carried forward until the employee leaves employment at which time the entity will pay the employee for all unused holiday leave. What is the holiday leave?

a. a postemployment benefit

b. other long term employee benefit

c. a termination benefit

d. short term employee benefit