Int Accounting Standards: 11, 19, 28, 32, 36, 38, 40

Constraction contracts include the destruction of an asset

Under IAS 11, two or more contracts should be accounted for separately, even if they were negotiated together

What isn't obligatory to determine if the construction of a series of assets should be treated as separate contracts?

A fixed price contract is a contract in which the contractor agrees to a

Which of the following costs cannot be allocated to a construction contract cost?

Architects fees for the construction of a building should not be accounted for under IAS 11

A contract in which the contractor agrees to a pre-determined contract price

A contract in which the contractor is reimbursed for pre-defined costs, plus a percentage

Contract revenue is measured at ____ of received or receivable revenue

IAS19 is an accounting rule concerning ________ under the IFRS rules set by the International Accounting Standards Board

IAS 19 categories employee benefits into 4 categories; which one is not one of them?

Matching principle means to recognize an expense in the period when matching revenue is recognized.

Which one is not a short-term employee benefit?

Can be used as an alternative to make payments, e.g. to employees

Holiday Entitlement is usually a good example for _________ employee benefits.

What is the usual amount (or closest) for profit-sharing that firms give to employees?

Which one is NOT a post-employment benefit?

Termination benefits are provided in exchange for the service of the employee

Objective of IAS 28 is to prescribe the accounting for investments in

IAS 28 applies to investments in associates held by

Significant influence is the power to..

Significant influence is presumed to exist when owning ______ of voting power of an investee.

Evidence of significant influence may be interchange of managerial personnel.

Method of accounting for investments in associates and joint ventures is

Investors profit or loss doesn't include share of investee's profit or loss. 

Investor is exempted from using equity method if…

Which one of the following is incorrect

Use of the equity method should cease from the date that significant influence  ceases

Nowadays, IAS 32 is about the Presentation and Disclosure of Financial Instruments

Which of the following is NOT a financial asset?

Which of the following statments is correct?

A financial instrument is a contract that has clear economic consequences

Which of the following is NOT a compound financial instrument?

If there is a contractual obligation to deliver cash / financial asset it is

How are compound financial instruments presented?

True or false: A treasury share is a share from the company itself

Which of the following is NOT correct? A financial asset is 

IAS 36 applies to all assets 

IAS 36 applies to assets classified as

Recovrable amount is