Question 1

Complete the following sentence:
IFRS 8 Operating Segments is applicable for financial reporting periods _____ on or after 1 January 2009. Early adoption is _______.

Accepted Answer

A)  ending, not permitted; 
B)  ending, permitted; 
C)  beginning, not permitted; 
D)  beginning, permitted. 
A)  ending, not permitted; 
B)  ending, permitted; 
C)  beginning, not permitted; 
D)  beginning, permitted.

Question 2

Based on the information provided below, which business unit(s) should be identified as TeeVee Ltd's operating segment(s)?

Accepted Answer

A)  Glee only; 
B)  Homeland only; 
C)  CSI only; 
D)  Glee and CSI. 
A)  Glee only; 
B)  Homeland only; 
C)  CSI only; 
D)  Glee and CSI.

Question 3

The following criteria are the key decision points in identifying an entity's component as an operating segment, except for:

Accepted Answer

A)  the component's manager is part of the CODM; 
B)  discrete financial information are available for the component; 
C)  the component is able to generate revenue and incur expenses from its business activities; 
D)  the component's operating results are regularly reviewed by the CODM. 
A)  the component's manager is part of the CODM; 
B)  discrete financial information are available for the component; 
C)  the component is able to generate revenue and incur expenses from its business activities; 
D)  the component's operating results are regularly reviewed by the CODM.

Question 4

Cherry Group has operating segments in three different locations. Total assets for each segment are as follows:
$\blacktriangleright$Melbourne $400 000
$\blacktriangleright$Sydney $80 000
$\blacktriangleright$Adelaide $20 000
Which operating segment(s) should be disclosed as reportable segment(s) of Cherry Group?

Accepted Answer

A)  All segments are reportable segments; 
B)  Melbourne and Sydney are the only reportable segments; 
C)  Sydney and Adelaide are the only reportable segments; 
D)  Melbourne is the only reportable segment. 
A)  All segments are reportable segments; 
B)  Melbourne and Sydney are the only reportable segments; 
C)  Sydney and Adelaide are the only reportable segments; 
D)  Melbourne is the only reportable segment.

Question 5

Which of the followings are the requirements under IFRS 8?
 
Enues and expenses from internal and external customers.or preparing financial statements.
Leaning Objective 21.4 Briefly compare IFRS 8 with its predecessor standard IAS 14.

Accepted Answer

A)  I, II, III. 
B)  II, IV, VI. 
C)  I, III, V. 
D)  II, III, VI. 
A)  I, II, III. 
B)  II, IV, VI. 
C)  I, III, V. 
D)  II, III, VI.

Question 6

Segments that do not satisfy the requirements of a reportable segment must:

Accepted Answer

A)  not be disclosed at all in the financial report; 
B)  be reported in the notes to the financial statements; 
C)  be combined and disclosed as 'all other segements'; 
D)  be combined with the smallest reportable segment. 
A)  not be disclosed at all in the financial report; 
B)  be reported in the notes to the financial statements; 
C)  be combined and disclosed as 'all other segements'; 
D)  be combined with the smallest reportable segment.

Question 7

Additional segments must be identified as reportable segments until at least:

Accepted Answer

A)  75% of total entity revenue is included in reportable segments; 
B)  75% of total entity assets are included in reportable segments; 
C)  75% of total entity liabilities are included in reportable segments; 
D)  75% of total entity equity is included in reportable segments. 
A)  75% of total entity revenue is included in reportable segments; 
B)  75% of total entity assets are included in reportable segments; 
C)  75% of total entity liabilities are included in reportable segments; 
D)  75% of total entity equity is included in reportable segments.

Question 8

If an operating segment does not meet all of the thresholds of significance, it:

Accepted Answer

A)  may not be designated as a reportable segment; 
B)  may still be designated as a reportable segment; 
C)  must be combined with the largest of the other segments and reported in aggregate; 
D)  is insignificant and cannot be reported separately. 
A)  may not be designated as a reportable segment; 
B)  may still be designated as a reportable segment; 
C)  must be combined with the largest of the other segments and reported in aggregate; 
D)  is insignificant and cannot be reported separately.

Question 9

If an entity presents both consolidated financial statements and parent entity financial statements in the same financial report, it must present:

Accepted Answer

A)  segment data only on the basis of the parent entity financial statements; 
B)  segment data only on the basis of the consolidated financial statements; 
C)  condensed segment data that includes revenue information only; 
D)  segment information on the basis of both the consolidated and the parent financial information. 
A)  segment data only on the basis of the parent entity financial statements; 
B)  segment data only on the basis of the consolidated financial statements; 
C)  condensed segment data that includes revenue information only; 
D)  segment information on the basis of both the consolidated and the parent financial information.

Question 10

Under IFRS 8, two or more operating segments may be aggregated into a single operating segment if aggregation is consistent with the core principle of the standard, the segments have similar economic characteristics, and the segments are similar in each of the following respects:

Accepted Answer

A)  I, II and III only; 
B)  I, III and IV only; 
C)  I, II and IV only; 
D)  II, III and IV only. 
A)  I, II and III only; 
B)  I, III and IV only; 
C)  I, II and IV only; 
D)  II, III and IV only.

Complete the following sentence: IFRS 8 Operating Segments is applicable for financial reporting periods _ on or after 1 January 2009. Early adoption is ___.

Based on the information provided below, which business unit(s) should be identified as TeeVee Ltd's operating segment(s)?

The following criteria are the key decision points in identifying an entity's component as an operating segment, except for:

Which of the followings are the requirements under IFRS 8? Enues and expenses from internal and external customers.or preparing financial statements. Leaning Objective 21.4 Briefly compare IFRS 8 with its predecessor standard IAS 14.

Segments that do not satisfy the requirements of a reportable segment must:

Additional segments must be identified as reportable segments until at least:

If an operating segment does not meet all of the thresholds of significance, it:

If an entity presents both consolidated financial statements and parent entity financial statements in the same financial report, it must present:

Under IFRS 8, two or more operating segments may be aggregated into a single operating segment if aggregation is consistent with the core principle of the standard, the segments have similar economic characteristics, and the segments are similar in each of the following respects:

The Conceptual Framework of the Iasb

Shareholders Equity: Share Capital and Reserves

Fair Value Measurement

Revenue

Provisions, Contingent Liabilities and Contingent Assets

Income Taxes

Financial Instruments

Share-Based Payments

Inventories

Employee Benefits

Property, Plant and Equipment

Leases

Intangible Assets

Business Combinations

Impairment of Assets

Accounting for Mineral Resources

Agriculture

Financial Statement Presentation

Statement of Cash Flows

Earnings Per Share

Operating Segments

Consolidation: Controlled Entities

Consolidation: Wholly Owned Subsidiaries

Consolidation: Intragroup Transactions

Consolidation: Non-Controlling Interest

Consolidation: Other Issues

Translation of the Financial Statements of Foreign Entities

Associates and Joint Ventures

Joint Arrangements

Filters

Exam 21: Operating Segments

Complete the following sentence: IFRS 8 Operating Segments is applicable for financial reporting periods _____ on or after 1 January 2009. Early adoption is _______.

Based on the information provided below, which business unit(s) should be identified as TeeVee Ltd's operating segment(s)?

The following criteria are the key decision points in identifying an entity's component as an operating segment, except for:

Which of the followings are the requirements under IFRS 8? Enues and expenses from internal and external customers.or preparing financial statements. Leaning Objective 21.4 Briefly compare IFRS 8 with its predecessor standard IAS 14.

Segments that do not satisfy the requirements of a reportable segment must:

Additional segments must be identified as reportable segments until at least:

If an operating segment does not meet all of the thresholds of significance, it:

If an entity presents both consolidated financial statements and parent entity financial statements in the same financial report, it must present:

Under IFRS 8, two or more operating segments may be aggregated into a single operating segment if aggregation is consistent with the core principle of the standard, the segments have similar economic characteristics, and the segments are similar in each of the following respects:

The Conceptual Framework of the Iasb

Shareholders Equity: Share Capital and Reserves

Fair Value Measurement

Revenue

Provisions, Contingent Liabilities and Contingent Assets

Income Taxes

Financial Instruments

Share-Based Payments

Inventories

Employee Benefits

Property, Plant and Equipment

Leases

Intangible Assets

Business Combinations

Impairment of Assets

Accounting for Mineral Resources

Agriculture

Financial Statement Presentation

Statement of Cash Flows

Earnings Per Share

Operating Segments

Consolidation: Controlled Entities

Consolidation: Wholly Owned Subsidiaries

Consolidation: Intragroup Transactions

Consolidation: Non-Controlling Interest

Consolidation: Other Issues

Translation of the Financial Statements of Foreign Entities

Associates and Joint Ventures

Joint Arrangements

Filters

Complete the following sentence: IFRS 8 Operating Segments is applicable for financial reporting periods _ on or after 1 January 2009. Early adoption is ___.