Reference no: EM132704397
Problem 1: Which statement is correct?
a. The primary purpose of quasi reorganization is to give an entity the opportunity to eliminate a deficit in accumulated profits.
b. Quasi reorganization thru revaluation does not change the share capital of the organization and the deficit is eliminated thru the use of revaluation surplus.
c. Quasi reorganization thru recapitalization changes the share capital structure of the organization and the deficit is eliminated thru the use of share premium.
d. all of the above
e. none of the above
Problem 2: Which statement is incorrect?
a. Share options are equity settled share based payment transaction and should be reported as expense using the fair value method on the date of grant.
b. Compensation expense is immediately recognized under PFRS 2 in circumstances when options are granted for prior service, and the options are immediately exercisable
c. In share-based compensation, the entry to record the compensation expense is a debit to salaries expense and a credit to Share Options Outstanding.
d.none of the above
Problem 3: In share-based compensation, who shall be included in determining total compensation expense?
a. employees who left the company during the period
b. Employees who will leave the company for the succeeding years
c. Employees who already retired during the period of computation
d. Employees who are hired during the period of computation
e. answer not given
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