Which of the Following Statements Is Not in Accordance with AASB

question 55

Multiple Choice

Which of the following statements is not in accordance with AASB 121 "Investments in Associates"?

• A) An investor applies the requirements of AASB 139 to determine whether any additional impairment loss is recognised with respect to the investor's interest in the associate.
• B) Goodwill that forms part of the carrying amount of an investment in an associate is not separately recognised and therefore not tested for impairment separately.
• C) The investor's financial statements are prepared using uniform accounting policies for like transactions and events in similar circumstances.
• D) If the reporting period of the investor is different from that of the associate, the associate prepares, for the use of the investor, financial statements as of the same date as the financial statements of the investor unless it is impracticable to do so.
• E) None of the given answers.

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Definitions:

Index

An index refers to an integer value that indicates a position within an array or list, used to access specific elements.

Array's Starting Position

Refers to the initial index or location of the first element in an array, typically zero in most programming languages.

Atomic Data Types

Fundamental types of data that are not divisible into simpler types within the programming language.

Structured Types

Structured types are composite data types in programming that allow for the combination of multiple items of possibly different types into a single type.