CIMA Exam CIMAPRA19-F01-1 Topic 2 Question 24 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam

Question #: 24
Topic #: 2

If a parent entity is to be exempt from preparing consolidated financial statements it needs to satisfy certain conditions according to IFRS 10 Consolidated Financial Statements.

Which TWO of the following are conditions that need to be satisfied to be exempt?

AThe parent entity is itself a wholly owned subsidiary of another entity.

BThe ultimate parent of the parent entity publishes consolidated financial statements which are publicly available.

CThe parent 's investment in its subsidiaries are all below 100%.

DThe parent entity has no more than 10 subsidiaries or associated entities.

EThe parent entity has subsidiaries, one or more of which publishes consolidated financial statements.

Show Suggested Answer

Suggested Answer: A, B

by Yoko at May 08, 2022, 11:40 PM

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