The cost of abnormal amounts of wasted material in the production of self-constructed assets are

Expensed Capitalized Ignored Capitalized as per accounting policy choice

As per IAS-1, non-controlling interest (NCI) is presented in the statement of financial position as?

A separate item from liabilities and equity Component of equity Non-current liability Current liability

Deferred tax assets and liabilities should be classified under IFRS as

Non-current Current Per the discretion of management Long term assets or liabilities

Which one of these is NOT a fundamental principle of accounting under IFRS?

Going Concern Materiality True and Fair Cash basis of accounting

In case of a conflict between the conceptual framework and the requirements of an accounting standard under IFRS?

Requirements of IFRS prevail over conceptual framework. Requirements of conceptual framework prevail over IFRS. At discretion of management. Both will prevail equally.