Cisco
CompTIA
ISC
EC-Council
EXIN
Fortinet
ITIL
Juniper
Microsoft
VMware
Avaya
SAP
Google
NVIDIA
Salesforce
Amazon
Palo Alto Networks
ISC2
Splunk
ServiceNow
All Vendors
  2. Home
  3. Exams
  4. WorldatWork
  5. T7

WorldatWork T7 Exam
International Financial Reporting Standards for Compensation Professionals Exam (Page 5 )

Updated On: 7-Feb-2026
Page 3 of 19
PDF with 89 Questions

What are the usual and customary costs that a company incurs to support its main business called?

  1. Operating expenses
  2. Current liabilities
  3. Current debt
  4. Total expenses

Answer(s): A



Which of the following are ingredients of the fundamental qualitative characteristics of faithful representation?

  1. Complete, neutral, freedom from error
  2. Assets, liabilities, equity
  3. Predictive value, confirmatory value, relevance
  4. Comparability, verifiability, timeliness

Answer(s): A



When the economic consequences of a standard or rule is ignored, which characteristic is being represented?

  1. Neutral
  2. Verifiability
  3. Complete
  4. Relevance

Answer(s): A



Which of the following describes the concerns of Level 3 of the conceptual framework for financial reporting?

  1. Basic objective
  2. Recognition, measurement, and disclosure concepts
  3. Fundamental concepts
  4. Elements of financial statements

Answer(s): B



Employee benefits that are expected to be settled wholly before twelve months after the end of the annual reporting people in which the employee rendered the related service are considered what kind of benefits?

  1. Short-term benefits
  2. Post-employment benefits
  3. Termination benefits
  4. Long-term benefits

Answer(s): A



Viewing page 5 of 19
Viewing questions 21 - 25 out of 89 questions



Post your Comments and Discuss WorldatWork T7 exam prep with other Community members:

Join the T7 Discussion