Reference no: EM132785732

problem 1: According to IAS 37, a present obligation that is possible and can be measured reliably is

A. ignored.

B. recognized and disclosed.

C. recognized.

D. disclosed only.

problem 2: Which of the following contingencies need not be disclosed in the financial statements or the notes thereto?

A. Probable losses not reasonably estimable

B. Environmental liabilities that cannot be reasonably estimated

C. Guarantees of indebtedness of others

D. All of these must be disclosed.

problem 3: The continuing operations EPS is an EPS computation that is forward-looking and based on assumptions about future transactions.

Select one:

True

False

problem 4: An entity shall calculate basic earnings per share amounts for profit or loss attributable to ordinary equity holders of the parent entity and, if presented, profit or loss from continuing operations attributable to those equity holders.

Select one:

True

False