Start learning →

Under D7AA, the PPE old GAAP carrying value can be deemed cost if there is no change in:

AStatutory auditor
BRegistered office
CFunctional currency
DStock valuation method
Answer & Solution
Correct answer: C. Functional currency
Paragraph D7AA applies where there is no change in functional currency on the date of transition.
Practise this question with Quill — CA Final →

Keep practising Ind AS 101 First-time Adoption of Indian Accounting Standards

Browse all Ind AS 101 First-time Adoption of Indian Accounting Standards questions for CA Final, or explore more Financialreporting topics.

Start a Ind AS 101 First-time Adoption of Indian Accounting Standards lesson →
Related questions
Once a company follows Ind AS, voluntarily or mandatorily, can it revert to the old methodCompanies with Rs 500 crore net worth were mandatorily covered from:Under IFRS 1, adjustments from using a different earlier GAAP are recognised directly in:The December 2010 amendment to IFRS 1 guided entities emerging from:The restructured version of IFRS 1 was issued on:IFRS 1 was first issued in which month and year?Which body issued IFRS 1, the model for Ind AS 101?Ind AS 101 was notified by the MCA vide G.S.R. 111(E) dated: