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Question - 4: The asset or liability measured at fair value shall be:
A : A stand-alone asset or liability
B : A group of assets, a group of liabilities or a group of assets and liabilities
C : Either of (a) and (b)
D : Neither of (a) and (b)
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Question - 5: The market that maximises the amount that would be received to sell the asset or
minimises the amount that would be paid to transfer the liability, after taking into account
transaction costs and transport costs is called____
A : Principal market
B : Most advantageous market
C : Primary market
D : Active market
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Question - 6 : The highest and best use of a non-financial asset while measuring the fair value takes
into account the use of the asset that is -
A : Physically possible
B: Legally permissible
C : Financially feasible
D: All of the above
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Question - 7: The price paid to acquire the asset or received to assume the liability is called -
A : Transaction price (an entry price)
B : Transaction price (an exit price)
C : Settlement price (an entry price)
D : Settlement price (an exit price)
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Question - 8: Characteristics of the asset or liability are considered if market participants would take
those characteristics into account when pricing the asset or liability at the measurement date. Such
characteristics include:
A : Condition of the asset
B : Location of the asset
C : Restrictions on the sale or use of the asset
D : All of the above
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Question - 9: Revisions resulting from a change in the valuation technique or its application shall be
accounted for as-
A : Change in accounting policy as per IND AS 8
B : Change in accounting estimate as per IND AS 8
C : Change in valuation technique is not permitted
D : Prior period error as per IND AS 8
Question – 10 : The measurement requirements of IND AS 113 applies to
A : Share based payment transactions within the scope of IFRS 2 Share? based Payment
B: Leasing transactions accounted for in accordance with IFRS 16 Leases
C: Assets for which recoverable amount is fair value less costs of disposals in accordance with IND AS 36
D : Measurements of net realisable value in IAS 2 Inventories or value in use in IAS 36 Impairment of Assets
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IND AS 102 – Share Based Payments starting soon
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Question – 1 : Silver Jubilee Motors granted 2,000 share options to each of its three Branch Manager on
1 April 2017, subject to the Branch Managers being in employment till 31 March 2020. The options will
vest on 31 March 2020 only if the company’s share price reaches INR 14 per share at that time. The fair
value of each option on 1 April 2017 is INR 10. The share price at 31 March 2018 is INR 8 and it is not
anticipated that it will rise over the next two years. Further, it is anticipated on 31 March 2018 that only
two Branch Managers will be in employment by 31 March 2020. Determine the value of share option to
be recorded per IND AS 102 Share Based Payment in the Balance Sheet for the year ended 31 March
2018.
A : INR 20,000
B : INR 13,333
C : INR 10,667
D : INR 18,667
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Ans 1 here
Anonymous Quiz
35%
A
50%
B
14%
C
1%
D
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Question – 2 : In respect of an entity which is a first-time adopter of IND AS, IND AS 102 would not
necessarily be required to be applied to which of the following equity instruments?
A : Equity instruments that vested before date of transition to IND AS
B : Equity instruments that vested after date of transition to IND AS
C : Equity instruments that vested on the date of transition to IND AS
D : All equity instruments that vested before, on and after date of transition to IND AS
Question – 3 : On 1 April 20X1, ABC Ltd acquired an item of plant for an agreed consideration of its
own 1,000 shares. The plant was received on same date and the obligation to transfer shares was to be
settled on 1 May 20X1. The fair value of the item of the plant was Rs. 10,000 on 1 April 20X1. ABC Ltd.’s
share price was INR 8.00 on 1 April 20X1 and INR 9.00 on 31 March 20X2. In accordance with IND AS
102 Share-based Payment, ABC Ltd should:
A : Remeasure the equity to 9,000 on 31 March 20X2
B : Initially recognise the plant and equity at 8,000 on 1 April 20X1
C : Make no entry in relation to the transaction until 1 May 20X1
D : Initially recognise the plant and equity at 10,000 on 1 April 20X1
2025/10/22 08:03:14
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