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Evaluate what the company should

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Reference no: EM132559494

Question 1: Under IFRS 11: Joint Arrangements, how must joint ventures be reported by the venturers?

a. Cost method
b. Proportional consolidation
c. Equity method
d. Either cost or equity method

Question 2: A company acquires equipment for $10,000 which is higher than its tax base. The acquisition is not part of a business combination. Under IAS 12: Income Taxes, the company should

a. recognize a deferred tax asset.
b. recognize a deferred tax liability.
c. recognize a capital gain.
d. not recognize any deferred taxes.

Reference no: EM132559494

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