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ACC 306 Week 3 Quiz


Question 1:  If a company’s deferred tax asset is not reduced by a valuation allowance, the company believes it is more likely than not that: Question 2:  Which of the following statements typifies defined contribution plans? Question 3:  The annual pension expense for what type of pension plan(s) is recorded by a journal entry that includes a debit to pension expense and a credit to the pension asset or pension liability? Question 4:  Which of the following causes a temporary difference between taxable and pretax accounting income? Question 5:  The result of interperiod tax allocation is that: Question 6:  Pension gains related to plan assets occur when: Question 7:  Under SFAS 87, delayed recognition of gains and losses in earnings achieves: Question 8:  Consider the following: I present value of vested benefits at present pay levels II present value of nonvested benefits at present pay levels III present value of additional benefits related to projected pay increases Which of the above constitutes the vested benefit obligation? Question 9:  Of the following temporary differences, which one ordinarily creates a deferred tax asset? Question 10:    A gain from changing an estimate regarding the obligation for pensions and other postretirement benefit plans will:



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