Under IFRS 10,when Can a Venturer Recognize a Portion of the Gain

question 24

Multiple Choice

Under IFRS 10,when can a venturer recognize a portion of the gain on a contribution of assets to a joint operation?

• A)When the venturer has transferred the significant rights and rewards of ownership to the joint arrangement.
• B)When the legal documentation is signed and payment has been made by the joint arrangement to the venturer for the asset received.
• C)When the asset is put in use by the joint arrangement.
• D)When the asset is sold by the joint arrangement to an arm's length third party.

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Definitions:

Waking State

A state of consciousness where an individual is fully awake and aware of their environment, as opposed to being asleep or in a dream state.

Brain Waves

Patterns of neuronal activity in the brain, detectable with EEG, associated with different states of consciousness and mental activities.

Postural Muscles

Muscles used to maintain the body's posture, providing stability and balance.

Most Relaxed

A state or condition of being free from tension, stress, or anxiety.