alleryStart learning →If reporting dates differ, the maximum gap allowed between entity and venturer statements is what?
AThree months
BNine months
CTwelve months
DSix months
Answer & Solution
Correct answer: D. Six months
When same-date statements are impracticable, different dates may be used if they differ by not more than six months, with adjustments for significant events.
Keep practising AS 27 Financial Reporting of Interests in Joint Ventures
Browse all AS 27 Financial Reporting of Interests in Joint Ventures questions for CA Inter, or explore more Accounting topics.
Related questions
For jointly controlled entities, a venturer must disclose which item?How are joint venture capital commitments disclosed?AS 27 disclosure of contingent liabilities is not needed when the probability of loss is wFor which statements is AS 27 mandatory in respect of an enterprise?How does the joint venture itself account for the operator's management fee?Fees earned by an operator of a joint venture are accounted for under which standard?Which standard is used to test impairment in venturer and venture transactions?A loss on purchase from a venture is booked at once when it shows what?