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- IFRS 12 – Disclosure of Interests in Other Entities 0%
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Question 1 of 9
1. Question
Which of the following does not necessarily evidence that the entity has interest in another entity?
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Question 2 of 9
2. Question
For the purpose of IFRS 12, an interest in another entity refers to __________ involvement that exposes an entity to __________ from the performance of the other entity.
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Question 3 of 9
3. Question
Which of the following terms agrees with this definition: ‘An entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.’
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Question 4 of 9
4. Question
It is necessary to strike a balance between obscuring financial statements with excessive detail that may assist users of financial statements and burdening financial statements with information as a result of too much aggregation.
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Question 5 of 9
5. Question
Which of the following is not an appropriate level of aggregation of information for disclosure of interests within the classes of entities?
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Question 6 of 9
6. Question
Which of the following is true about the entity that accounts for its interest in the joint venture or associate using the equity method?
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Question 7 of 9
7. Question
Which of the following is a feature of a structured entity?
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Question 8 of 9
8. Question
Which of the following is not an example of structured entities?
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Question 9 of 9
9. Question
The reporting entity has involvement that exposes it to variability of returns from the performance of the structured entity because the credit default swap absorbs variability of returns of the structured entity.
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