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CA Final Ind AS 112 Disclosure of Interests in Other Entities — practice questions — page 2

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 31–40 of 40.

Which amount is disclosed for each material joint venture under paragraph B13?Read the answer and worked solution →An interest held for sale under Ind AS 105 needs what regarding summarised information?Read the answer and worked solution →An unconditional purchase obligation to buy equipment for a joint venture is what?Read the answer and worked solution →What is a structured entity?Read the answer and worked solution →A typical customer supplier relationship alone has what effect on having an interest in another entity?Read the answer and worked solution →Which amount is disclosed for unconsolidated structured entities?Read the answer and worked solution →Maximum exposure to loss cannot be quantified. What must the entity disclose?Read the answer and worked solution →For a sponsored structured entity with no interest at year end, what is disclosed?Read the answer and worked solution →Which is included in income from a structured entity?Read the answer and worked solution →How should disclosures for similar entities be aggregated?Read the answer and worked solution →

Worked practice questions

Which amount is disclosed for each material joint venture under paragraph B13?

  1. Share premium
  2. Interest expense
  3. Brand value
  4. Goodwill on NCI
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Correct answer: B. Interest expense

Along with depreciation, interest income and tax, interest expense is required for each material joint venture.

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An interest held for sale under Ind AS 105 needs what regarding summarised information?

  1. Full detail required
  2. Only cash flow data
  3. No summarised data
  4. Only prior year data
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Correct answer: C. No summarised data

Paragraph B17 exempts summarised financial information for interests classified as held for sale under Ind AS 105.

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An unconditional purchase obligation to buy equipment for a joint venture is what?

  1. A recognised provision
  2. A contingent asset
  3. An item of share capital
  4. An unrecognised commitment
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Correct answer: D. An unrecognised commitment

Appendix B lists unconditional purchase obligations towards a joint venture among unrecognised commitments needing disclosure.

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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