ACCOUNTING STANDARDS

What is the name for IAS 16?

Based on IAS 16, initial measurement for tangible non current assets should include the following except...

• Carriage Inwards

• Future decommissioning costs

• Maintenance cost

• Installation charges.

Based on IAS 16, subsequent measurement of tangible non current assets can be ........................

What are the factors affecting depreciation calculation?

• Initial carrying value

• Residual value

• EUEL

• All the above

What is the current accounting standards governing leasing arrangements?

• IAS 17

• FRS 17

• IFRS 16

• MFRS 16

IAS 2 standards governing......

• Accounting for financial instruments.

• Accounting for inventories

• Investment in Associates

• Subsidiaries

Based on IAS 36 Impairments, Recoverable amount is the higher of comparing....

• Fair value and NRV

• Fair value and Value in use

• Carrying value and NRV

• NRV and value in use

If the carrying value of tangible non current assets is higher than recoverable amount, the difference will be known as............

How many conditions must be fulfilled by Research Expenditure to qualify as a non current assets as per IAS 38?

• 3

• 6

• 5

• 7

The following standards is not governing consolidation.....

• IFRS 3

• IFRS 10

• IAS 27

• IAS 33