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CA Final Ind AS 24 Related Party Disclosures and Ind AS 108 Operating Segments — practice questions — page 3

Explore 91 free Ind AS 24 Related Party Disclosures and Ind AS 108 Operating Segments 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 24 Related Party Disclosures and Ind AS 108 Operating Segments questions and exercises with answers

Showing questions 61–90 of 91.

Which factor helps judge detail for government-related transactions?Read the answer and worked solution →A parent and subsidiary share risks in a defined benefit plan. This is:Read the answer and worked solution →A start-up unit that has not yet earned revenue can be:Read the answer and worked solution →Corporate headquarters earning only incidental revenue is:Read the answer and worked solution →The chief operating decision maker may be:Read the answer and worked solution →A segment manager is typically directly accountable to:Read the answer and worked solution →In a matrix organisation, segments are determined by reference to:Read the answer and worked solution →Which is an aggregation criterion for combining operating segments?Read the answer and worked solution →Segment profits total Rs 90 lakh, losses Rs 150 lakh. A segment earning Rs 14 lakh passes the profit test?Read the answer and worked solution →Combined segment assets are Rs 800 crore. Minimum assets for the asset test:Read the answer and worked solution →A segment misses all 10 per cent tests. May it still be reported separately?Read the answer and worked solution →Two small segments may combine only if they have similar economics and:Read the answer and worked solution →Revenue is Rs 400 crore; reportable segments hold Rs 270 crore. Extra needed for 75 per cent?Read the answer and worked solution →Non-reportable segments' information is combined into:Read the answer and worked solution →A segment reportable last year, now below thresholds but still significant, is:Read the answer and worked solution →The entity should consider a practical limit when reportable segments exceed:Read the answer and worked solution →Which measure must be reported for every reportable segment?Read the answer and worked solution →Segment items are measured as the figures reported to:Read the answer and worked solution →Amounts allocated to segment profit, assets or liabilities must be allocated on:Read the answer and worked solution →An entity must explain the basis of accounting for:Read the answer and worked solution →Depreciation is charged to a segment but the related assets are not. This is:Read the answer and worked solution →Material reconciling items between segment and entity profit must be:Read the answer and worked solution →The internal structure changes so reportable segments change. Earlier periods are:Read the answer and worked solution →Entity-wide disclosures in paragraphs 32 to 34 apply to:Read the answer and worked solution →Which revenue must be reported for each product or service group?Read the answer and worked solution →Geographical revenue must be shown for the country of domicile and:Read the answer and worked solution →Geographical non-current assets exclude:Read the answer and worked solution →Entities known to be under common control are treated, for major customers, as:Read the answer and worked solution →Which item is disclosed if in the decision maker's profit measure?Read the answer and worked solution →Where equity-method investments sit in segment assets, the entity discloses:Read the answer and worked solution →

Worked practice questions

Which factor helps judge detail for government-related transactions?

  1. Carried out on non-market terms
  2. Settled within one week
  3. Denominated in rupees
  4. Recorded in the first quarter
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Correct answer: A. Carried out on non-market terms

Size, non-market terms, deals outside normal business, regulatory disclosure, reporting to senior management and shareholder approval all signal significance.

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A parent and subsidiary share risks in a defined benefit plan. This is:

  1. A related party transaction
  2. Not any kind of transaction
  3. A government-only item
  4. A key personnel item
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Correct answer: A. A related party transaction

Participation in a defined benefit plan that shares risks between group entities is a transaction between related parties.

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A start-up unit that has not yet earned revenue can be:

  1. Always excluded
  2. Only an all other item
  3. An operating segment
  4. Only geographical data
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Correct answer: C. An operating segment

A component may be an operating segment before it earns revenue if it engages in activities from which it may earn revenue.

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More Financialreporting topics

Ind AS 116 LeasesInd AS 36 Impairment of Assets and Ind AS 38 Intangible AssetsInd 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 PropertyInd AS 103 Business Combinations