WorksheetsIFRS 2
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
What does Ind AS 102 primarily deal with?
a)
Revenue Recognition
b)
Share-based Payment
c)
Financial Instruments
d)
Leases
2.
Which of the following is an example of share-based payment?
a)
Cash Dividends
b)
Employee Stock Options
c)
Trade Discounts
d)
Loan Interest
3.
In case of transaction with employees, FV of goods & Services cannot be measured reliably, therefore entity should measure their value by as a ________ of equity instruments granted be measured under Ind AS 102?
a)
Historical Cost
b)
Market Price
c)
Intrinsic Value
d)
Fair Value
4.
The entity shall account for the cancellation or settlement as an __________and shall therefore recognize immediately the amount that otherwise would have been recognized for services received over the remainder of the ___________.
a)
acceleration of vesting ,Vesting period
b)
Deceleration, vesting period
c)
acceleration of vesting , Exercise period
d)
Deceleration, Exercise period
5.
Which financial statement should reflect the expense arising from share-based payments?
a)
A) Income Statement
b)
B) Balance Sheet
c)
C) Cash Flow Statement
d)
A and B
6.
How Fair value shall be measured for the for share-based payments granted to non-employees ?
a)
A)Fair value shall be measured at the date the entity obtains the goods or the counterparty renders service.
b)
B)for cash settled share-based payment transactions the entity shall remeasure the fair value of the liability at the end of each reporting period until the liability is settled.
c)
A& B
d)
None
7.
Which of the following is a disclosure requirement under Ind AS 102?
a)
Number of employees
b)
fair value of the goods or services received or or the fair value of the equity instruments granted
c)
CEO's salary
d)
Advertising expenses
8.
What is the accounting treatment if the FV of the new instrument is more than FV of old instrument when modification of instrument is made before Vesting date?
a)
The incremental amount is recognized over the remaining vesting period in a manner similar to the original amount.
b)
The incremental amount is recognized capitalized
c)
The incremental amount is recognized Expensed
d)
None
9.
Condition to be fulfilled by the employees to receive the SBP is _______
a)
Vesting Condition
b)
Vesting Period
c)
Vesting Date
d)
Exercise condition
10.
It is the date on which the entity and another party agree to a share-based payment arrangement, being when the entity and the counter party have shared understanding of the terms and conditions of the arrangement.
a)
Grant date
b)
Measurement date
c)
Exercise date
d)
Balance sheet date.
11.
What value should be applied to equity-settled share-based payment schemes?
a)
Estimated fair value of the option at the vesting date
b)
Fair value of the option at the grant date
c)
Fair value of the goods received
d)
Fair value of the option at the reporting date
12.
Which of the following items is not covered within IFRS 2 Share-based payment?
a)
Defined benefit pension schemes
b)
Transactions with third parties
c)
Cash-settled schemes
d)
Equity-settled schemes
13.
Calculate the expense that needs to be recognized in first year.
No of employees: 1000
Fair value of option: 100
Remaining period: 2 years
Estimated number of employees estimated to exercise the option: 80%.
a)
40,000 each year
b)
25,000 each year
c)
50,000 each year
d)
60,000 each year
14.
The difference between the fair value of the shares to which the counterparty has the (conditional or unconditional) right to subscribe or which it has the right to receive, and the price (if any) the counterparty is (or will be) required to pay for those shares is called____
a)
Intrinsic Value
b)
Fair value
c)
Market value
d)
Historical Value
15.
What value should be applied to share-based payment transaction with third parties?
a)
Estimated fair value of the option at the vesting date
b)
Fair value of the option at the grant date
c)
Fair value of the goods or service received
d)
Fair value of the option at the reporting date
100 %
