a-1, b-2, c-3, d-4
a-4, b-3, c-2, d-1
a-4, b-1, c-2, d-3
a-4, b-2, c-1, d-3
Answer is Right!
Answer is Wrong!
The correct answer is: A. a-1, b-2, c-3, d-4
- Ind AS-38 deals with intangible assets. Intangible assets are non-monetary assets that are not physical in nature and that have the potential to generate future economic benefits for the entity.
- Ind AS-36 deals with impairment of assets. Impairment of an asset is a loss of economic value that occurs when the carrying amount of an asset is not recoverable.
- Ind AS-34 deals with interim financial reporting. Interim financial reporting is the reporting of financial information on a periodic basis, other than annual financial statements.
- Ind AS-31 deals with interests in joint ventures. A joint venture is an arrangement whereby two or more parties undertake an economic activity that is subject to joint control.
Here is a brief explanation of each option:
- Option A: a-1, b-2, c-3, d-4. This option is correct because it matches the relevant Ind AS with the correct definition.
- Option B: a-4, b-3, c-2, d-1. This option is incorrect because it matches Ind AS-38 with interim financial reporting. Interim financial reporting is covered by Ind AS-34.
- Option C: a-4, b-1, c-2, d-3. This option is incorrect because it matches Ind AS-38 with interests in joint ventures. Interests in joint ventures are covered by Ind AS-31.
- Option D: a-4, b-2, c-1, d-3. This option is incorrect because it matches Ind AS-38 with impairment of assets. Impairment of assets is covered by Ind AS-36.