1 / 5   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

2 / 5   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

3 / 5   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

4 / 5   Any Non-Cash consideration included in transaction price will be calculated at?

Shall be ignored Fair value Nominal amount Net realisable value

5 / 5   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.