In accounting for compensated absences, the difference between vested rights and accumulated rights is

Finance

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In accounting for compensated absences, the difference between vested rights and accumulated rights is

a. vested rights are normally for a longer period of employment than are accumu¬lated rights.
b. vested rights are not contingent upon an employee’s future service.
c. vested rights are a legal and binding obligation on the company, whereas accumulated rights expire at the end of the accounting period in which they arose.
d. vested rights carry a stipulated dollar amount that is owed to the employee; accumulated rights do not represent monetary compensation.

Answer: vested rights are normally for a longer period of employment than are accumu¬lated rights

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