alleryStart learning →In the investor's separate financial statements, which standard applies to an associate?
AAS 21
BAS 23
CAS 13
DAS 26
Answer & Solution
Correct answer: C. AS 13
AS 23 does not apply to separate statements, so the investment is dealt with under AS 13 on investments.
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Related questions
An enterprise controlled by another enterprise is called a what?Consolidated financial statements present a group as what?An enterprise is NOT an associate if it is what?A 40% held associate revalues assets with a surplus of Rs 2,00,000. Adjustment to carryingA 30% associate sold goods to the investor at Rs 50,000 profit, still unsold. Elimination?A Rs 4,00,000 investment has an equity carrying amount of Rs 4,50,000 when influence ends.Unrecognised loss share is Rs 30,000. The investor's share of the next profit is Rs 50,000Rs 8,00,000 buys 40% of an associate with net assets of Rs 15,00,000. What is the goodwill