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    Ifrs PDF

    Uploaded by

    HafisMohammedSahib
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    IFRS .pdf

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    41 views1 page

    Ifrs PDF

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    IFRS ONLINE PRACTICE TESTS FOR


    FREE
    Prev

    No. of Questions : 15
    Test Name: IFRS
    Time Spent : 00:00:35

    Q1 :
    Which of the following classes of assets do not
    qualify to be classi8ed as ‘held for sale’?
    Answer :
    [Attempted : Correct]
     
    Q2 :
    IAS 2: Inventories, does not allow which of the
    following inventory cost methods:
    Answer :
    [Attempted : Correct]
     
    Q3 :
    What 3 key elements are used to decide whether an
    item meets the criteria of an intangible asset?
    Answer :
    [Attempted : Wrong]
     
    Q4 :
    Which of the following items shall be included in the
    investing activities in the statement of cash Jows?
    Answer :
    [Attempted : Wrong]
     
    Q5 :
    What is the different between IAS and IFRS?
    Answer :
    [Attempted : Wrong]
     
    Q6 :
    Government grants are ASSISTANCE in return for
    FUTURE compliance with certain conditions relating
    to OPERATING activities of the entity. True or False?
    Answer :
    [Attempted : Wrong]
     
    Q7 :
    Which of the following is not a purpose of a 8nancial
    reporting conceptual framework?
    Answer :
    [Attempted : Wrong]
     
    Q8 :
    Which of the following is not a disadvantage of
    having a conceptual framework of accounting?
    Answer :
    [Attempted : Correct]
     
    Q9 :
    Which of the following is not a chapter of the IASB
    Framework?
    Answer :
    [Attempted : Wrong]
     
    Q10 :
    Mega Corp has committed to closing a factory six
    months after the end of the current 8nancial year.
    The factory represents 15% of its annual sales. How
    should this be presented in the current 8nancial
    statements?
    Answer :
    [Attempted : Wrong]
     
    Q11 :
    A group of asset to be disposed of, by sale or
    otherwise, together as a group in a single
    transaction, and liabilities directly associated with
    those assets will be transferred in the transaction is
    called…
    Answer :
    [Attempted : Wrong]
     
    Q12 :
    SoapyCo produces soaps and detergents. However
    due to lack of demand in the vicinity, it is proposing
    to relocate to another country. The machinery has
    been dismantled and packed up for relocation. It is
    proposed to use the same machinery in the foreign
    country. What treatment is appropriate regarding this
    machinery?
    Answer :
    [Attempted : Wrong]
     
    Q13 :
    Which of the following is not a requirement to
    classify an asset (or disposal group) as “held for
    sale”?
    Answer :
    [Attempted : Wrong]
     
    Q14 :
    Which of the following is not allowed as a “cost to
    sell”?
    Answer :
    [Attempted : Wrong]
     
    Q15 :
    Under which of the following circumstances are
    subsidiaries held for disposal classi8ed as ‘held for
    sale’?
    Answer :
    [Attempted : Wrong]
     
    Try again

    NOTE :-

    Each right answer carries 1 mark(s) & wrong answer

    carries - 0 mark(s).

    Don't Refresh the page Once you start the exam.

    No mark will be deducted for unanswered questions.

    Though immense care has been taken while publishing

    this test, still if you face any

    subject/language/format/technical error, you are

    requested to notify us.Your small gesture will help us

    give more value to other users..

    Please Report Us

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