Test 7 Welcome to AADVIKMS! Empowering Finance Careers Connect with top finance professionals and employers for exciting opportunities. Total Number of Questions: 40 Time: 40 Minutes All the best... Kind Regards CMA Madhuri Kashyap & CMA Sandeep Kumar - Founder - International Navodaya Chamber of Commerce Name Email Phone State 1. Which IFRS standard deals with the Presentation of Financial Statements? IFRS 5 IFRS 7 IAS 1 IAS 1 None 2. Under Ind AS, which standard corresponds to IFRS 15 on Revenue from Contracts with Customers? Ind AS 18 Ind AS 115 Ind AS 16 Ind AS 101 None 3. IFRS 16 relates to which accounting topic? Leases Financial Instruments Revenue Recognition Employee Benefits None 4. Which of the following Ind AS is equivalent to IAS 36? Ind AS 41 Ind AS 1 Ind AS 36 Ind AS 38 None 5. IFRS standards are issued by which body? ICAI IASB FASB SEBI None 6. Ind AS 10 corresponds to which IFRS/IAS standard? IAS 10 IFRS 10 IFRS 5 IAS 1 None 7. Which IFRS standard prescribes accounting for Investment Property? IAS 16 IAS 40 IFRS 9 IFRS 7 None 8. Ind AS 19 is related to which of the following topics? Income Taxes Employee Benefits Revenue Recognition Financial Instruments None 9. The functional currency concept is part of which IFRS standard? IFRS 1 IFRS 2 IAS 21 IAS 32 None 10. Under Ind AS, the corresponding standard for IFRS 9 on Financial Instruments is: Ind AS 9 Ind AS 109 Ind AS 29 Ind AS 32 None 11. What does IFRS 13 deal with? Revenue Fair Value Measurement Provisions Income Taxes None 12. Ind AS 12 corresponds to which IFRS topic? Employee Benefits Income Taxes Revenue Borrowing Costs None 13. Which IFRS standard provides guidance on share-based payment? IFRS 2 IAS 2 IFRS 15 IFRS 9 None 14. Under Ind AS, which standard corresponds to IAS 16 on Property, Plant, and Equipment? Ind AS 20 Ind AS 16 Ind AS 41 Ind AS 1 None 15. IFRS 3 is related to: Consolidated Financial Statements Business Combinations Fair Value Measurement Inventory None 16. Ind AS 101 relates to which topic? Business Combinations First-time Adoption of Ind AS Consolidated Financial Statements Revenue from Contracts with Customers None 17. Which of the following standards addresses 'Non-current Assets Held for Sale'? IFRS 3 IFRS 7 IFRS 5 IAS 32 None 18. Under Ind AS, which standard deals with Agriculture? Ind AS 10 Ind AS 40 Ind AS 41 Ind AS 16 None 19. IFRS 15 replaces which IAS standard? IAS 11 and IAS 18 IAS 2 and IAS 16 IAS 8 and IAS 32 IAS 21 and IAS 24 None 20. Which Ind AS corresponds to IAS 24 on Related Party Disclosures? Ind AS 24 Ind AS 101 Ind AS 115 Ind AS 12 None 21. Under IFRS, Financial Instruments are mainly covered under: IFRS 3 IFRS 9 IFRS 15 IFRS 16 None 22. What is the equivalent Ind AS for IFRS 16 on Leases? Ind AS 16 Ind AS 19 Ind AS 116 Ind AS 101 None 23. Which Ind AS corresponds to IAS 37 on Provisions, Contingent Liabilities, and Contingent Assets? Ind AS 37 Ind AS 109 Ind AS 115 Ind AS 7 None 24. IFRS 8 relates to: Segment Reporting Inventory Revenue Recognition Financial Instruments None 25. Ind AS 23 corresponds to which accounting topic? Revenue Borrowing Costs Employee Benefits Consolidated Financial Statements None 26. IFRS 11 deals with which of the following? Revenue Borrowing Costs Joint Arrangements Employee Benefits None 27. What is the equivalent of IAS 7 in Ind AS? Ind AS 9 Ind AS 7 Ind AS 8 Ind AS 10 None 28. Ind AS 21 deals with: Foreign Exchange Rates Provisions Employee Benefits Revenue None 29. IFRS 7 provides guidelines for: Financial Instruments Disclosures Financial Position Revenue Recognition Inventory Valuation None 30. Which IFRS standard covers accounting for Insurance Contracts? IFRS 15 IFRS 17 IAS 39 IFRS 9 None 31. *Ind AS 33 relates to: Earning Per Share Provisions Business Combinations Leases None 32. IFRS 10 relates to: Consolidated Financial Statements Non-current Assets Fair Value Agriculture None 33. Ind AS 8 corresponds to which topic? Accounting Policies, Changes in Accounting Estimates and Errors Employee Benefits Revenue Recognition Income Taxes None 34. IFRS 12 relates to disclosures of interests in: Inventories Other Entities - Non-current Assets Employee Benefits None 35. Which Ind AS standard corresponds to IFRS 3? Ind AS 7 Ind AS 10 Ind AS 103 Ind AS 36 None 36. Ind AS 40 corresponds to which topic? Revenue Investment Property Financial Instruments Leases None 37. IFRS 6 relates to: Exploration for and Evaluation of Mineral Resources Revenue Recognition Provisions Consolidated Financial Statements None 38. Which IFRS standard relates to Impairment of Assets? IFRS 5 IAS 36 IAS 16 IFRS 2 None 39. Ind AS 34 is related to: Interim Financial Reporting Segment Reporting Earnings Per Share Consolidation None 40. IFRS 1 deals with: First-time Adoption of IFRS Consolidated Financial Statements Earnings Per Share Fair Value Measurement None Thank you for participating in our test series! We hope it boosted your knowledge and prepared you well for finance job interviews. Keep leveraging what you've learned to build confidence and excel. Wishing you great success in your career journey! Time's upTime is Up!
