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- IFRS 14 – Regulatory Deferral Accounts 0%
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Question 1 of 10
1. Question
Which of the following is not an objective of IASB for IFRS 14?
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Question 2 of 10
2. Question
Which of the following is the main feature of IFRS 14?
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Question 3 of 10
3. Question
The objective of IFRS 14 is to specify the financial reporting requirements for regulatory deferral account balances that arise when an entity provides goods or services to customers at a price or rate that is subject to rate regulation.
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Question 4 of 10
4. Question
In order to meet the objective of IFRS 14, an entity shall disclose:
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Question 5 of 10
5. Question
Under which circumstances does IFRS 14 permit an entity within its scope to continue to account for regulatory deferral account balances in its financial statements in accordance with its previous GAAP?
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Question 6 of 10
6. Question
All specified requirements for reporting regulatory deferral account balances, and any exceptions to, or exemptions from, the requirements of other IFRSs that are related to those balances, are contained within IFRS 14 instead of within those other IFRSs.
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Question 7 of 10
7. Question
Under which circumstances is an entity permitted to apply the requirements of IFRS 14 in its first IFRS financial statements?
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Question 8 of 10
8. Question
Under which of the following circumstances shall an entity apply the requirements of IFRS 14 in its financial statements for subsequent periods?
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Question 9 of 10
9. Question
By applying the requirements specified in IFRS 14, any amounts that are permitted or required to be recognised as assets or liabilities in accordance with other IFRSs shall be included within the amounts classified as regulatory deferral account balances.
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Question 10 of 10
10. Question
Which of the following statements does not agree with IFRS 14 with regards to change in accounting policies?
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