Get a glimpse of the real T7 certification exam challenges with our free WorldatWork T7 practice test questions.
Question 1
Company XYZ has a group of six employees who will be retiring in four years -- on the 31st of December. Each retiree will receive $125,000. Company XYZ's accountants must make provisions in their accounts for this. Calculate the present value of future payments based on a discount rate of 10%.
Question 2
Why is accounting for short-term employee benefits generally a straightforward process?
Question 3
Profit-sharing and bonuses are an example of which kind of employee benefits?
Question 4
Defined contribution plans are an example of which kind of employee benefits?
Question 5
Paid annual leave and paid sick leave are examples of which kind of employee benefits?
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