35.Which is not required for the recognition of a liability for compensated absences?

Payment of the obligation will require the use of current assets

Chapter 27
1. EPS disclosures are required for Entities whose ordinary shares and
potentials ordinary shares are publicly traded and entities that are in the
process of issuing ordinary shares in public market.

2. EPS disclosures are Required for public entities and encourage for
nonpublic entities

3. When an entity issues both consolidated and separate financial statements, the
EPS information is required Only for consolidated financial statement

4. Earnings per share shall be computed on the basis of Average ordinary

shares outstanding during the year

5. Earnings per share shall be reported for all of the following, except Gross
income

6. An ordinary share Is an equity instrument that is subordinate to all other

classes of equity instrument

7. In computing basic earnings per share, if the preference shares are cumulative,
the amount that should be deducted as an adjustment to the numerator is the
Annual preference dividend

8. In computing basic earnings per share the amount of preference dividends on

noncumulative preference shares should be Deducted from net income only
when declared

9. In computing basic earnings per share the full amount of the required preference
dividends on cumulative preference shares for the period should be Deducted from
net income whether declared or not

10.In computing basic loss per share, the annual preference dividend on cumulative
preference shares should be added to the net loss whether declared or not
11.Where in the financial statements should basic and diluted EPS be reported? In
the income statement

12.An entity that reports a discontinued operation shall present basic and diluted
earnings per share for discontinued operation Either on the face of the of the
income statement or in the notes of financial statements

13.Earnings per share should be computed on the basis of Voting ordinary share

14.Undeclared preference dividends are deducted from net income inte EPS
computation for which preference shares? cumulative

15.Earnings per share should always be reported for Income from continuing
operations