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International Financial Reporting Standards
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International Financial Reporting Standards
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25 Questions

1. Which of the following is not a chapter of the IASB Framework?
2. Which of the following is not covered by IAS 36 Impairment?
3. The objective of _____ is to establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities
4. A disposal group is a group of
5. Which of the following is not a requirement to capitalise development costs under IAS 38 Intangible Assets?
6. When an intangible asset is sold, the gain or loss is recognisd
7. Under IAS 1 how often should financial statements be prepared?
8. Which of the following is not an example of a potential ordinary share?
9. Operating leases are mostly ______ agreements.
10. How are unallocated overheads treated as per IAS 2?
11. Finance leases are accounted for in a similar manner to
12. When is offsetting permitted under IAS 1?
13. What is the treatment of an impairment loss under IAS 36?
14. Diluted EPS shows
15. An investment property should initially be measured at
16. What items of inventories are outside the scope of IAS 2
17. How often should the useful life of an intangible asset with a finite useful life be reviewed?
18. A change in depreciation method is a
19. Ordinary shares outstanding during the period are
20. Changes in accounting policy are considered in depth in:
21. Which of the following is not permitted as a cost to sell under IAS 36?
22. If an entity wishes to change from a cost model to fair value model under IAS 40 Investment Property, when may it do so?
23. The convergence of the Indian Accounting Standards with IFRS began in
24. A leased asset should be depreciated over the
25. Theoretical ex rights price TERP is calculated when there is a

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