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- IFRS 11 – Joint Arrangements 0%
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Question 1 of 10
1. Question
What should the parties of a joint arrangement, which is structured through a separate vehicle, consider, when assessing their rights and obligations that arise from the arrangement?
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Question 2 of 10
2. Question
A joint arrangement that is not structured through a separate vehicle is a ___________.
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Question 3 of 10
3. Question
Which of the following a joint arrangement can be, in which the assets and liabilities relating to the arrangement are held in a separate vehicle?
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Question 4 of 10
4. Question
The legal form of the separate vehicle is relevant when assessing the type of joint arrangement.
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Question 5 of 10
5. Question
According to IFRS 11, how should a joint operator account for sale or contribution of assets to a joint operation?
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Question 6 of 10
6. Question
According to IFRS 11, how should a joint operator account for purchases of assets from a joint operation?
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Question 7 of 10
7. Question
Entities A, B, C and D each hold 25% in the joint operation of E. Entity A purchased goods from E in amount of $1,000. When should A recognise its share of the gains or losses in relation to this transaction in its financial statements?
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Question 8 of 10
8. Question
Entities A, B, C and D each hold 25% in the joint operation of E. Entity A sold goods to E, making a profit of $500. What profit will A recognise in its financial statements regarding this transaction?
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Question 9 of 10
9. Question
Assume an arrangement has three parties: A has 50 per cent of the voting rights in the arrangement while B and C each have 25 per cent. The contractual arrangement between A, B and C specifies that at least 75 per cent of the voting rights are required to make decisions about the relevant activities of the arrangement. Is this arrangement a joint arrangement?
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Question 10 of 10
10. Question
A has 50 per cent of the voting rights in the arrangement, B has 35 per cent and C has 15 per cent. The contractual arrangement between A, B and C specifies that at least 75 per cent of the voting rights are required to make decisions about the relevant activities of the arrangement. What is true regarding this joint arrangement?
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