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CA Final Ind AS 112 Disclosure of Interests in Other Entities — practice questions

Explore 40 free Ind AS 112 Disclosure of Interests in Other Entities questions in CA Final Financialreporting. Open each question or exercise to read its content, reference answers and available explanation.

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Ind AS 112 Disclosure of Interests in Other Entities questions and exercises with answers

Showing questions 1–30 of 40.

Ind AS 112 disclosures help users evaluate the risks of an entity's what?Read the answer and worked solution →Which interest falls inside the scope of Ind AS 112?Read the answer and worked solution →Which standard governs separate financial statements, which Ind AS 112 largely excludes?Read the answer and worked solution →Separate statements are the only statements and structured entities are unconsolidated. Which paragraphs apply?Read the answer and worked solution →A passive holder of a joint arrangement stake has no joint control or influence. When does Ind AS 112 still apply?Read the answer and worked solution →An interest under Ind AS 109 is mostly outside Ind AS 112. Which interest is an exception?Read the answer and worked solution →Which is a significant judgement disclosed under Ind AS 112?Read the answer and worked solution →A company holds 55% of votes but finds no control. What must it disclose?Read the answer and worked solution →A company controls an entity with under half the votes. What is required?Read the answer and worked solution →A joint arrangement uses a separate vehicle. Which judgement must be disclosed?Read the answer and worked solution →A parent concludes it is an investment entity. What must it disclose?Read the answer and worked solution →An investment entity lacks a typical characteristic of one. What must it disclose?Read the answer and worked solution →An entity becomes an investment entity. Which disclosure is required?Read the answer and worked solution →Disclosures on interests in subsidiaries help users understand what about the group?Read the answer and worked solution →A subsidiary's year end differs from the parent's. What must be disclosed?Read the answer and worked solution →For which subsidiaries must NCI details be disclosed individually?Read the answer and worked solution →Summarised information of a subsidiary with material NCI is presented on what basis?Read the answer and worked solution →Which payment must be disclosed for a subsidiary with material NCI?Read the answer and worked solution →For assets and liabilities under significant restrictions, what else must be disclosed?Read the answer and worked solution →NCI approval is needed to use a subsidiary's assets. Which concept is this?Read the answer and worked solution →A contract may require a parent to fund a consolidated structured entity. What is disclosed?Read the answer and worked solution →A parent's stake changes without loss of control. What does paragraph 18 need?Read the answer and worked solution →A parent loses control of a subsidiary in the period. Which item must it disclose?Read the answer and worked solution →On loss of control, which part of the gain or loss is disclosed separately?Read the answer and worked solution →For a material joint venture, which basis is disclosed?Read the answer and worked solution →An equity-accounted associate has a quoted price. What must be disclosed for it?Read the answer and worked solution →How are immaterial joint ventures and associates disclosed under paragraph 21(c)?Read the answer and worked solution →An entity stopped recognising its share of an associate's losses. What must it disclose?Read the answer and worked solution →Commitments relating to joint ventures must be disclosed in what way?Read the answer and worked solution →Contingent liabilities of an associate are disclosed unless the probability of loss is what?Read the answer and worked solution →

Worked practice questions

Ind AS 112 disclosures help users evaluate the risks of an entity's what?

  1. Interests in other entities
  2. Own inventory valuation
  3. Own employee benefit plans
  4. Own revenue policy
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Correct answer: A. Interests in other entities

The standard's objective is to show the nature of and risks tied to interests in other entities, and the effects on position, performance and cash flows.

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Which interest falls inside the scope of Ind AS 112?

  1. Joint venture interest
  2. Trade receivable balance
  3. Employee benefit plan
  4. Bank fixed deposit
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Correct answer: A. Joint venture interest

Subsidiaries, joint arrangements, associates and unconsolidated structured entities are the four interests the standard covers.

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Which standard governs separate financial statements, which Ind AS 112 largely excludes?

  1. Ind AS 27
  2. Ind AS 28
  3. Ind AS 111
  4. Ind AS 110
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Correct answer: A. Ind AS 27

Separate financial statements fall under Ind AS 27, so Ind AS 112 generally does not apply to them.

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More Financialreporting topics

Ind AS 116 LeasesInd AS 36 Impairment of Assets and Ind AS 38 Intangible AssetsInd AS 24 Related Party Disclosures and Ind AS 108 Operating SegmentsInd AS 1 Presentation of Financial StatementsInd AS 12 Income TaxesInd AS 113 Fair Value MeasurementInd AS 109 Financial InstrumentsInd AS 23 Borrowing Costs and Ind AS 40 Investment Property