The 'Segment Information' under Ind AS 108 is based on: MCQ with Answer and Explanation

Question

Share Report Error

The 'Segment Information' under Ind AS 108 is based on:

A. The management approach (as reported internally to the chief operating decision maker)

B. Product lines only

C. Legal entities

D. Geographical areas only

Answer: Option A

Solution (By JKSSB Mock Tests)

Ind AS 108 adopts a 'management approach' to identify operating segments.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

Share Report

On retirement of a partner, if the retiring partner is paid his dues in instalments, the method used is:

A. Proportionate capital method

B. Surplus capital method

C. Maximum loss method

D. Piecemeal distribution

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
When dues are paid in instalments, piecemeal distribution (as per Garner vs Murray rule) is applied.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

Share Report

Under the 'Public Financial Management System' (PFMS), the 'Just-in-Time' fund release mechanism ensures:

A. Release of funds only when needed, reducing idle funds

B. Delayed payments

C. Manual processing

D. Advance payment to all

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Just-in-Time in PFMS releases funds just in time for expenditure, avoiding float and idle balances.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

Share Report

Which of the following is an example of a 'Revenue Reserve'?

A. General reserve

B. Revaluation reserve

C. Capital redemption reserve

D. Securities premium

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
General reserve is created from revenue profits, hence a revenue reserve. Securities premium and capital redemption reserve are capital reserves. Revaluation reserve arises from revaluation of assets, also capital.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Explore All Accountancy and Book Keeping MCQs