Under IFRS How Are Unrealized Gains and Losses on Non-Monetary

question 53

Multiple Choice

Under IFRS how are unrealized gains and losses on non-monetary assets contributed to jointly controlled operations recorded assuming that they gain or loss meets the revenue recognition tests under IAS 18:

• A)The amounts are included in deferred gains or losses.
• B)The gain or loss must be eliminated against the underlying assets as a contra account.
• C)No gain or loss can be recognized until the asset is put into use and the asset is generating revenues.
• D)The gain or loss should be recorded immediately as other comprehensive income and transferred to operating income as the non-monetary asset is put into service.

---

Definitions:

One-On-One Conversations

Personal interactions between two individuals, often used to exchange ideas, thoughts, or feedback.

Discrimination Lawsuit

Legal action taken against an individual or organization accused of unfair treatment based on attributes such as race, gender, age, or religion.

Unhappy Customers

Individuals who are dissatisfied with a product, service, or experience, potentially leading to complaints or negative feedback.

Negative Experience

An unpleasant or unsatisfactory encounter or event that can lead to adverse reactions or impressions.