If the accounting policies of a parent and subsidiary are not uniform then while preparing the consolidated financial statement

Consolidation adjustment has to be made No consolidation adjustment is required Only disclosure is required in notes to accounts Disclosure is required in director's report

Which one of these is NOT a basis of preparation of financial statements under IFRS?

Legal arrangement irrespective of the substance Based on the substance underlying a transaction Fair value approach for recognition and measurement Accrual basis

Without a separate legal entity the joint arrangement is a?

Joint operation Joint venture Associate At discretion of management

Which IFRS Accounting Standard provides guidance on accounting for income taxes?

IAS 12 IAS 2 IAS 33 IAS 36

In a defined benefit plan, plan assets are measured at each balance sheet date at?

Fair value Cost Cost or fair value whichever is less Book value