Which of the following is within the scope of IAS 37 Provisions, contingent liabilities and contingent assets?

• Future payments under employment contracts

• Future payments on vacant leasehold premises

Let's say you need 100,000 to build a house in 8 months but you're going to use general current borrowings to fund yourself rather than getting a specific loan. Your current borrowings are: 1 million of 10% loan finance and 2 million of 6% loan finance. What borrowing costs should be capitalised?

• 4,888

• 10,000

In a normal CGU impairment - what gets impaired first?

• Goodwill

• PPE

How much is Goodwill?

• 50

• 100

Your company owns 40% of another company - is that company your subsidiary?

• Yes

• No

If an IFRS disagrees with the conceptual framework - then what should be followed?

• The IFRS

• The framework

Contract assets and receivables shall be accounted for in accordance with ______

• IFRS 15 Revenue

• IFRS 9 Financial instruments

A cash flow statement provides information that enables users to evaluate the changes in:

• Solvency

• Its liquidity

• Its financial structure

• Net assets of an undertaking

For an investment to qualify as a cash equivalent, it must be:

• Liquid and low risk

• Illiquid and low risk

• Liquid and medium risk

• Liquid and high risk

The carrying amount of property, plant and equipment was $410 million at 31 March 2011 and $ 680 million at 31 March 2012. During the year, property with a carrying amount of $ 210 million was revalued to $290 million. The depreciation charge for the year was $115 million. There were no disposals. What amount will appear on the statement of cash flows for the year ended 31 March 2012 in respect of purchases of property, plant and equipment?

• $270m

• $235m

• $305m

• $225m