IFRS 10 States That a Parent Is Not Required to Present

question 52

Multiple Choice

IFRS 10 states that a parent is not required to present consolidated financial statements for external reporting purposes if the parent meets certain conditions. Which of the following conditions is NOT correct?

• A) Its ultimate or any intermediate parent produces financial statements available for public use and that comply with IFRS in which subsidiaries are consolidated.
• B) It does not have any debt or equity instruments traded in a public market.
• C) It has filed, or is in the process of filing, financial statements with a regulatory organization for the purposes of a public offering.
• D) It is a wholly-owned subsidiary of another entity and its other owners have been informed about the parent not presenting consolidated financial statement.

Recognize the developmental milestones related to the emergence of motor and mental abilities in infants.

Explain the role of neonate memory and its development.

Understand the concept and elements of consideration in contract formation.

Distinguish between unilateral and bilateral contracts and their requirements.

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Definitions:

Federal Rule Of Evidence

A set of regulations adopted by United States federal courts governing the admission and use of evidence in proceedings.

Disparagement

In tort law, any false statement made to others that questions the legal ownership or raises doubts as to the quality of merchandise.

Reasonably Foreseeable

A legal standard used to determine if a person could predict or expect a certain outcome as a result of their actions.