IFRS is developed primarily for what type of financial reporting?

External to Shareholders and investors Internal to management Reporting to the employees To tax authorities for disclosing taxable income

Non-current assets are classified as assets held for sale when their carrying amount is to be recovered principally through

Sale of assets Use in ordinary course of business Use or sale transaction Exchange of the assets

Which is NOT a category of financial asset under IFRS 9?

Held for maturity Amortised cost Fair value through profit and loss Fair value through other comprehensive income

Recoverable amount of non-monetary assets(In case of impairment) is translated at the exchange rate

When such recoverable amount is determined At the balance sheet date At the beginning of year Average rate

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