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- IAS 27 – Separate Financial Statements 0%
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Question 1 of 13
1. Question
The objective of IAS 27 is to prescribe the accounting and disclosure requirements for investments in __________ when an entity prepares separate financial statements.
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Question 2 of 13
2. Question
IAS 27 mandates which entities shall produce separate financial statements.
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Question 3 of 13
3. Question
Consolidated financial statements are the financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented __________.
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Question 4 of 13
4. Question
Separate financial statements are those presented by an entity in which the entity could elect, subject to the requirements of IAS 27, to account for its investments in subsidiaries, joint ventures and associates __________.
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Question 5 of 13
5. Question
The financial statements of an entity that does not have a subsidiary, associate or joint venturer’s interest in a joint venture are not separate financial statements.
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Question 6 of 13
6. Question
Which of the following statements is not true with regards to a parent that becomes an investment entity? (11B)
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Question 7 of 13
7. Question
Dividends from a subsidiary, a joint venture or an associate are recognised in profit or loss unless the entity elects to use the __________, in which case the dividend is recognised as a reduction from the carrying amount of the investment.
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Question 8 of 13
8. Question
Which of the following criteria shall be satisfied when a parent reorganises the structure of its group by establishing a new entity as its parent?
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Question 9 of 13
9. Question
At the date of initial application, an investment entity that previously measured its investment in a subsidiary at cost shall instead measure that investment at fair value through profit or loss as if the requirements of this IFRS had always been effective.
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Question 10 of 13
10. Question
At the date of initial application, an investment entity that previously measured its investment in a subsidiary at __________ through other comprehensive income shall continue to measure that investment at__________.
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Question 11 of 13
11. Question
The cumulative amount of any fair value adjustment previously recognised in __________ shall be transferred to __________ at the beginning of the annual period immediately preceding the date of initial application.
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Question 12 of 13
12. Question
At the date of initial application, an investment entity __________ make adjustments to the previous accounting for an interest in a subsidiary __________ it had previously elected to measure at fair value through profit or loss in accordance with IFRS 9.
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Question 13 of 13
13. Question
If an investment entity has disposed of, or lost control of, an investment in a subsidiary before the date of initial application of the Investment Entities amendments, the investment entity is required to make adjustments to the previous accounting for that investment.
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