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CA Inter AS 17 Segment Reporting — practice questions — page 3

Explore 66 free AS 17 Segment Reporting questions in CA Inter Accounting. Open each question or exercise to read its content, reference answers and available explanation.

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AS 17 Segment Reporting questions and exercises with answers

Showing questions 61–66 of 66.

If geography is primary, what is reported for large business segments?Read the answer and worked solution →On what basis are inter-segment transfers measured?Read the answer and worked solution →A material segment policy change needs nature and what else?Read the answer and worked solution →A change in how revenues and expenses are allocated to segments leaves what unchanged?Read the answer and worked solution →Each business segment must be described by indicating what?Read the answer and worked solution →Segment result includes interest expense. Segment liabilities then include what?Read the answer and worked solution →

Worked practice questions

If geography is primary, what is reported for large business segments?

  1. Result and tax charges
  2. Revenue, assets, asset additions
  3. Cash flows and dividends
  4. Liabilities and depreciation
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Correct answer: B. Revenue, assets, asset additions

Such business segments report external revenue, carrying amount of segment assets and cost incurred to acquire fixed assets.

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On what basis are inter-segment transfers measured?

  1. Cost plus fixed markup always
  2. Basis actually used for pricing
  3. Book value in every case
  4. Market price in every case
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Correct answer: B. Basis actually used for pricing

Transfers are measured at the price basis the enterprise really applied, and that basis is disclosed.

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A material segment policy change needs nature and what else?

  1. Names of segment heads
  2. Auditor fee for review
  3. Dividend paid that year
  4. Effect if determinable
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Correct answer: D. Effect if determinable

The change must be described and its financial effect shown when it can reasonably be determined.

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More Accounting topics

AS 3 Cash Flow StatementSchedule III Division I Financial StatementsAS 19 LeasesValuation of Inventories (AS 2)AS 22 Taxes on IncomeAS 28 Impairment of AssetsProperty, Plant and EquipmentAS 13 Accounting for Investments