CA Final derecognition — practice questions
15 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CA Final derecognition in the app →Under Ind AS 109, an entity recognises a financial asset or financial liability in its balance sheet when:A regular way purchase or sale of a financial asset under Ind AS 109 is:Under Ind AS 109, planned future transactions (that have not yet become contractual obligations) are recogniseUnder Ind AS 109, when an entity uses TRADE DATE accounting for a regular way purchase, the buyer:Under Ind AS 109, when an entity uses SETTLEMENT DATE accounting for a regular way purchase of an FVTPL financUnder Ind AS 109, derecognition principles can be applied to a PART of a financial asset (rather than the wholEntity A transfers 90% of the cash flows from a portfolio of receivables to Entity B but GUARANTEES to compensUnder Ind AS 109's derecognition flowchart, a sale of a financial asset together with a put or call option thaUnder Ind AS 109, a SALE AND REPURCHASE agreement where the repurchase price is a FIXED PRICE or the sale pricEntity A makes a 5-year ₹100 cr loan to B, settles a Trust, transfers the loan to the Trust, and the Trust issUnder Ind AS 109, an entity has "retained CONTROL" of a transferred financial asset (per the control test) wheUnder Ind AS 109, derecognition of a financial asset is APPROPRIATE when the cash flows from the financial assAn entity sells short-term receivables to a transferee but guarantees to compensate the transferee for ANY creA financial asset is sold under repurchase agreement that provides the TRANSFEROR with a RIGHT OF FIRST REFUSAUnder Ind AS 109's recognition guidance, a FIRM COMMITMENT to purchase or sell goods or services is recognised