Beruflich Dokumente
Kultur Dokumente
to accompany
Applying International
Accounting Standards
by
Alfredson, Leo, Picker, Pacter & Radford
Prepared by
Victoria Wise
-2-
1 month;
3 months;
12 months;
2 years.
Question 2
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, is not applicable to the
following assets:
A
B
C
D
property;
land and buildings;
financial assets that are already carried at fair value;
plant and equipment.
Question 3
The key characteristic for the classification of an asset as held for sale is that the carrying
amount of the asset must:
A
B
C
D
Question 4
The following criteria are used to determine whether an asset should be categorised as held for
sale:
I.
II.
III.
IV.
-3V.
VI.
Question 5
When assets are held for sale they must be measured, under IFRS 5 Non-current Assets Held
for Sale and Discontinued Operations, using which of the following approaches?
A
B
C
D
Question 6
Under IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, when an asset is
acquired in a business combination and is held for sale, it is initially recorded at:
A
B
C
D
initial cost;
fair value less costs to sell;
fair value;
net present value.
Question 7
While an asset is held for sale IFRS 5 Non-current Assets Held for Sale and Discontinued
Operations, prohibits:
A
B
C
D
Question 8
For a particular component of an entity to be classified as a discontinued operation, it must be
held for sale, or already disposed of, and meet one of the following criteria:
-4-
A
B
C
D
Question 9
An individual non-current asset classified as held for sale must be disclosed:
A
B
C
D
Question 10
When reporting the impact of discontinued operations, IFRS 5 Non-current Assets Held for Sale
and Discontinued Operations, requires disclosure on the face of the income statement:
I
A single amount for the after tax profit or
loss of discontinued operations
The revenue and expenses of discontinued operations
The net cash flows attributable to discontinued operations
A
B
C
D
II
III
Yes Yes No
Yes No Yes
No Yes No
IV
No
No
No
I;
II;
III;
IV.
Question 11
Where assets are removed from the classification of held for sale, IFRS 5 Non-current Assets
Held for Sale and Discontinued Operations, requires disclosure of the effects of the decision on
the results of operations for the period, in the:
A
B
C
D
income statement;
cash flow statement;
statement of changes in equity;
notes.
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Question 12
In relation to assets that have been sold during the reporting period, IFRS 5 Non-current Assets
Held for Sale and Discontinued Operations, requires disclosure of the following items:
I.
II.
III.
IV.
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ANSWERS
1
10
11
12