alleryStart learning →A farm has a forward contract to sell wheat. Which Ind AS handles it if the contract is onerous?
AInd AS 2
BInd AS 16
CInd AS 37
DInd AS 41
Answer & Solution
Correct answer: C. Ind AS 37
Fair value is not adjusted for the contract, and an onerous contract falls under Ind AS 37.
Keep practising Ind AS 20 Government Grants and Ind AS 41 Agriculture
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