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CA Final Ind AS 28 — Impairment, Discontinuing Equity Method, Held for Sale & Carve-outs from IAS 28 / AS 23 — practice questions
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Practice CA Final Ind AS 28 — Impairment, Discontinuing Equity Method, Held for Sale & Carve-outs from IAS 28 / AS 23 in the app →Under Ind AS 28, goodwill arising on acquisition of an associate or joint venture is:Under Ind AS 28, when an investment ceases to be an associate or joint venture because it becomes a SUBSIDIARYUnder Ind AS 28, length of difference between the reporting dates of an investor and its associate/JV must notAn entity has share of cumulative exchange differences ₹10,000 in OCI relating to a foreign-operation associatCD Ltd. holds 50% of RS Ltd. (JV) — carrying amount ₹1,00,000. CD sells a 20% stake for ₹80,000 cash; FV of reAn investment in an associate becomes an investment in a joint venture (or vice versa). Under Ind AS 28:Ram Ltd. holds 50% of Shyam Ltd. (JV). Ram plans to sell 10% to a third party; that 10% qualifies as held-for-Identify the statement that is NOT 'objective evidence of impairment' of an associate/JV under Ind AS 28.Under Ind AS 28, when computing 'value in use' for impairment of an associate, an entity may use which of the Carve-out from IAS 28 (carried into Ind AS 28): the requirement for uniform accounting policies between investWhen an entity LOSES significant influence over an associate but retains a financial asset interest, the gain/AS 23 (legacy Indian GAAP) allowed an investor's share of losses in an associate to be recognised only to the An entity has long-term loan ₹3,00,000 to an associate (substantively part of net investment), preference sharUnder Ind AS 28, interest on a long-term loan to an associate that is in substance part of the net investment An associate's investment portion classified as held for sale subsequently NO LONGER meets the held-for-sale c