Start learning →

Offsetting differs from derecognition how?

AOffsetting always gives a gain
BOffsetting gives no gain or loss
CBoth always give a loss
DThey are identical in effect
Answer & Solution
Correct answer: B. Offsetting gives no gain or loss
Offsetting only changes presentation, whereas derecognition removes the item and can create a gain or loss.
Practise this question with Quill — CA Final →

Keep practising Ind AS 32 Financial Instruments: Presentation

Browse all Ind AS 32 Financial Instruments: Presentation questions for CA Final, or explore more Financialreporting topics.

Start a Ind AS 32 Financial Instruments: Presentation lesson →
Related questions
Pro rata rights at a fixed price in any currency are?Which are 'entities' under Ind AS 32?Must a financial instrument contract be written?On reclassifying equity to liability, difference goes to?Puttable equity must sit in which class?Puttable equity must entitle holders to?A master netting arrangement provides?Is a sinking fund offset against the debentures?