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Problem a) As per AASB 119, which of the following items needs to be recorded at their discounted amounts?
Select one:
a. None of the given answer
b. Annual leave and sick leave if they are expected to be settled after 12 months have elapsed from the reporting date
c. Wages and salaries
d. Cumulative sick leave that has accrued for longer than 12 months
Problem b) Which one of the following options is correct for a journal entry creating provision for annual leave expenses?
a. Annual leave expenses Dr, Provision for annual leave Cr
b. Annual leave expenses Dr, Provision for annual leave Cr
c. Provision for annual leave Dr, Annual leave expenses Cr
d. Correct option is not listed in here
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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