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提问人：网友lichuan1104 发布时间：2022-01-07

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IFRS 10 Consolidated Financial Statements provides a definition of control and identifies three separate elements of control. Which of the following is NOT one of these elements of control？

A、Power over the investee

B、The power to participate in the financial and operating policies of the investee

C、Exposure to, or rights to, variable returns from its involvement with the investee

D、The ability to use its power over the investee to affect the amount of the investor's returns

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更多“IFRS 10 Consolidated Financial Statements provides a definition of control and identifies three sepa…”相关的问题

第1题

Petre Co owns 100% of the share capital of the following companies. The directors are unsure of whether the investments should be consolidated.In which of the following circumstances would the investment NOT be consolidated?

A、Petre Co has decided to sell its investment in Alpha Co as it is loss-making; the directors believe its exclusion from consolidation would assist users in predicting the group's future profits

B、Beta Co is a bank and its activity is so different from the engineering activities of the rest of the group that it would be meaningless to consolidate it

C、Delta Co is located in a country where local accounting standards are compulsory and these are not compatible with IFRS used by the rest of the group

D、Gamma Co is located in a country where a military coup has taken piace and Petre Co has lost control of the investment for the foreseeable future

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第2题

Which TWO of the following statements are correct when preparing consolidated financial statements?

A、A subsidiary cannot be consolidated unless it prepares financial statements to the same reporting date as the parent

B、A subsidiary with a different reporting date may prepare additional statements up to the group reporting date for consolidation purposes

C、A subsidiary's financial statements can be included in the consolidation if the gap between the parent and subsidiary reporting dates is five months or less.

D、Where a subsidiary's financial statements are drawn up to a different reporting date from those of the parent, adjustments should be made for significant transactions or events occurring between the two reporting dates

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第3题

Cloud Co obtained a 60% holding in the 100,000 $1 shares of Mist Co on 1 January 20X8, when the retained earnings of Mist Co were $850,000. Consideration comprised $250,000 cash, $400,000 payable on 1 January 20X9 and one share in Cloud Co for each two shares acquired. Cloud Co has a cost of capital of 8% and the market value of its shares on 1 January 20X8 was $2.30.Cloud Co measures non-controlling interest at fair value. The fair value of the non-controlling interest at 1 January 20X8 was estimated to be $400,000.What was the goodwill arising on acquisition?

A、$139,370

B、$169,000

C、$119,370

D、$130,370

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第4题

Witch Co acquired 70% of the 200,000 equity shares of Wizard, its only subsidiary, on 1 April 20X8 when the retained earnings of Wizard Co were $450,000. The carrying amounts of Wizard Co's net assets at the date of acquisition were equal to their fair values apart from a building which had a carrying amount of $600,000 and a fair value of $850,000. The remaining useful life of the building at the acquisition date was 40 years.Witch Co measures non-controlling interest at fair value, based on share price. The market value of Wizard Co shares at the date of acquisition was $1.75.At 31 March 20X9 the retained earnings of Wizard Co were $750,000. At what amount should the non-controlling interest appear in the consolidated statement of financial position of Witch Co at 31 March 20X9?

A、$193,125

B、$195,000

C、$196,875

D、$191,500

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第5题

On 1 August 20X7 Patronic Co purchased 18 million of the 24 million $1 equity shares of Sardonic Co. The acquisition was through a share exchange of two shares in Patronic Co for every three shares in Sardonic Co. The market price of a share in Patronic Co at 1 August 20X7 was $5.75. Patronic Co will also pay in cash on 31 July 20X9 (two years after acquisition) $2.42 per acquired share of Sardonic Co.Patronic Co's cost of capital is 10% per annum.What is the amount of the consideration attributable to Patronic Co for the acquisition of Sardonic Co?

A、$105 million

B、$139.5 million

C、$108.2 million

D、$103.8 million

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第6题

Crash Co acquired 70% of Bang Co's 100,000 $1 ordinary shares for $800,000 when the retained earnings of Bang Co were $570,000 and the balance in its revaluation surplus was $150,000. Bang Co also has an internally developed customer list which has been independently valued at $90,000. The non-controlling interest in Bang Co was judged to have a fair value of $220,000 at the date of acquisition.What was the goodwill arising on acquisition?

A、$200,000

B、$163,000

C、$226,000

D、$110,000

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第7题

Phantom Co acquired 70% of the $100,000 equity share capital of Ghost Co, its only subsidiary, for $200,000 on 1 January 20X9 when the retained earnings of Ghost Co were $156,000.At 31 December 20X9 retained earnings are as follows: $ Phantom Co 275,000 Ghost Co 177,000 Phantom Co considers that goodwill on acquisition is impaired by 50%. Non-controlling interest is measured at fair value, estimated at $82,800.Using the drop down box, select what are group retained earnings at 31 December 20X9?

A、$262,900

B、$280,320

C、$289,700

D、$585,700

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第8题

Tazer Co, a parent company, acquired Lowdown Co, an unincorporated entity, for $2.8 million. A fair value exercise performed on Lowdown Co's net assets at the date of purchase showed: $'000 Property, plant and equipment 3,000 Identifiable intangible asset 500 Inventories 300 Trade receivables less payables 200 4,000 How should the purchase of Lowdown be reflected in Tazer Co's consolidated statement of financial position?

A、Record the net assets at their values shown above and credit profit or loss with $1.2 million

B、Record the net assets at their values shown above and credit Tazer Co's consolidated goodwill with $1.2 million

C、Write off the intangible asset ($500,000), record the remaining net assets at their values shown above and credit profit or loss with $700,000

D、Record the purchase as a financial asset investment at $2.8 million

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第9题

On 1 July 20X7, Spider Co acquired 60% of the equity share capital of Fly Co and on that date made a $10 million loan to Fly Co at a rate of 8% per annum.What will be the effect on group retained earnings at the year-end date of 31 December 20X7 when this intragroup transaction is cancelled?

A、Group retained earnings will increase by $400,000

B、Group retained earnings will be reduced by $240,000.

C、Group retained earnings will be reduced by $160,000.

D、There will be no effect on group retained earnings.

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第10题

Hillusion Co acquired 80% of Skeptik Co on 1 July 20X2. In the post-acquisition period Hillusion Co sold goods to Skeptik Co at a price of $12 million. These goods had cost Hillusion Co $9 million. During the year to 31 March 20X3 Skeptik Co had sold $10 million (at cost to Skeptik Co) of these goods for $15m million.How will this affect group cost of sales in the consolidated statement of profit or loss of Hillusion Co for the year ended 31 March 20X3?

A、Increase by $11.5 million

B、Increase by $9.6 million

C、Decrease by $9.6 million

D、Decrease by $11.5 million

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