630416
Description
Quiz by Shaikh Emad Gohar, updated more than 1 year ago
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Created by Shaikh Emad Gohar
over 10 years ago
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Question 1
Question
Which of the following standards relate to Tangible Assets?
Answer
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IAS 16
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IAS 38
Question 2
Question
Which of the following Standards relate to Government Grants?
Answer
-
IAS 10
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IAS 20
Question 3
Question
Research Expenditure is:
Answer
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Expensed to Statement of Profit or Loss
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Capitalized in Statement of Financial Position
Question 4
Question
Provisions are recorded as a:
Answer
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Current Liability
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Non Current Liability
Question 5
Question
Accounting Policies are changed:
Answer
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Retrospectively
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Prospectively
Question 6
Question
Finance and Operating Leases are same in accounting treatment.
Answer
- True
- False
Question 7
Question
Sale or return basis involves the recognition of Revenue.
Answer
- True
- False
Question 8
Question
Contingent Asset is no longer a Contingent Asset when it is:
Answer
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Virtually Certain
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Probable
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Possible
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Remote
Question 9
Question
Contingent Liabilities and Contingent Assets are disclosed not adjusted.
Answer
- True
- False
Question 10
Question
Which paper is the father of F7?
Answer
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P2
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P4
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