………………..is the process of determining the monetary amounts at which the elements of financial statements are recognized and carried in the financial statements.

Related MCQs

• ….. is a financial reporting period shorter than a full financial year
• Specific principles, bases, conventions, rules and practices applied in presenting financial statements, are called,
• The process of converting foreign subsidiary financial statement into the home currency is known as …
• Under Ind AS 1, which of the following must be disclosed on the statement of financial position?
• When the recoverable amount of an asset is less than its carrying value in the statement of financial position, the asset is said to be
• ” Deferred tax asset is not a component of statement of financial position”
• Omission or misstatement in entity’s financial statement for one or more prior period is called
• Total borrowings used for construction of an office building are Rs.30, 00000. Entity issued 8% debentures worth 10,00000 for this purpose and balance amount was utilized from its common pool including 10% bank loan of Rs.1000000 and 9.5% bank loan of Rs.1000000. What is the amount of borrowing cost to be capitalized?
• Activities that result in changes in the size and composition of equity capital and borrowing of an entity are called
• Carrying amount of an asset as on 1st April 2015 is Rs. 1500000 and depreciation for the year 2015 – 2016 is 15000. Fair value of the asset less cost of disposal as on 31 March 2016 is Rs. 120000. Which of the following is the carrying amount at 1st April 2106?