IFRS 8: OPERATING SEGMENTS ( QUIZ 001 )

 



1. Which one from below is not true with reference to IFRS 8 (Operating Segments)

• IFRS 8 requires quoted companies to disclose information about their different operating segment for better understanding of users of financial statements.
• IFRS 8 requires companies which are under process to be quoted to disclose information about their different operating segment for better understanding of users of financial statements.
• A company included information about its segment which is not in compliance with IFRS 8; this information will not be called segment informations.
• Companies whose debt or securities are not quoted on stock market and also are not under process to be quoted are also required to disclose segment information as per IFRS 8.
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2. A multinational company has operating segment in different geo location , its head office is situated in a country where no operating segment is located , head office have not activities which earn revenue

• Head office is an operating segment
• Head office is not an operating segment
• Head office with combination of any geo operating segment will constitute as operating segment.
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3. As per IFRS 8

• Two or more operating segments having different nature of products and services are allowed to be aggregated in one operating segment.
• Two or more operating segments having different nature of products and services are not allowed to be aggregated in one operating segment.
• Two or more operating segments having different nature of products and services are not allowed to be aggregated in one operating segment with approval of board of directors.
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4. The financial report contain consolidated and separate financial statements of parent , segment information is required

• Only in separate financial statements.
• In consolidated financial statements.
• In both separate and consolidated financial statements.
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5. As per IFRS 8 , post employment benefit plans are

• Reporting segment
• Are reporting segment conditionally.
• Are not reporting segment
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6. Term “Chief Operating Decision Maker” used in IFRS 8 refers also to a group of executive directors

• False
• True
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7. An entity has not met any of the quantitative threshold described in IFRS 8 ,

• It can never ever be reported and separately disclosed.
• It can be reported and disclosed separately if management believes that doing this can be useful for user of financial statements.
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8. Which one from below is not to be identified as reporting segment

• Segment with 5% revenue (external and internal) of total revenue of the all segment (Internal and external)
• Segment with 10% revenue (external and internal) of total revenue of the all segment (Internal and external)
• Segment with 10% cent or more of the combined assets of all operating segments.
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9. A segment which was reporting segment in preceding year do not met the criteria of reporting segment in current year will continued to be reported separately if management feels that it is significant to do so for users of financial statements.

• True
• False
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