Page 122 - IC46 addendum
P. 122
General Insurance Accounts (IC-46)
Answers 20. d. AS 3, AS13, AS 17
21. e. All above
Unit 3 22. e. All above
23. e. All above
1. d. All above 24. e. A, B and C above
2. a. Financial statements are 25. e. All above
26. e. All are correct
structured representa- 27. e. None are incorrect
tion of financial calcula- 28. b. IND AS 16 excludes ac-
tion and financial per-
formance of an entity counting for real estate
3. b. AS 8 developers from its
4. b. Ind AS scope
5. d. 39 29. a. Indian is having three
6. b. 2016-17 sets of accounting
7. d. Accounting standards standards
are issued by ICWAI 30. c. National Advisory Com-
8. c. Accounting standards mittee On Accounting
provide framework and Standards have recom-
standard accounting mended 30 IND AS to
policies so that financial Ministry of corporate
statements of different affairs
enterprises becomes in- 31. e. All above
comparable 32. e. All are correct
9. a. Section 132 33. a. First-time adoption of In-
10. a. Section 132 (1) dian accounting stan-
11. e. All above dards
12. e. All above 34. e. Share-based payment
13. e. A and B is correct 35. a. Business combinations
14. a. Minimum period of six 36. b. Insurance contracts
months or such higher 37. e. Non-current assets held
period not exceeding 10 for sale and discontin-
years ued operations
15. c. 32 38. a. Exploration for an
16. a. April 1977 evaluation of mineral re-
17. e. All above sources
18. d. All above 39. c. Financial instruments
19. e. All enterprises not cov- disclosures
ered under level I and II
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