D
The correct answer is "A present
obligation of the entity arising from
past
events", as defined in para 49(b) of
the Framework.
A
A loss on disposal of assets is recognised
in the statement of comprehensive
income because IAS16 Property, plant
and equipment does not permit
otherwise (IAS1 para 88).
Dividends paid are recognised in the
statement of changes in equity (IAS1
para 106).
C
Because Oakes both has the right to
roll over the loan beyond 12 months
for
the end of the reporting period and
intends to roll it over, it should be
presented as a non-current liability
per para 73 of IAS1.
A&B
The correct answers are trade
discounts (deduct these from
purchase costs)
and storage costs for part-finished
(but not finished) goods.
See IAS2 paras 11 and 16.
B
The correct answer is "The amount
in the statement of financial position
after accumulated depreciation and
impairment losses".
IAS16 para 6 defines the carrying
amount.
A
"The systematic allocation of an
asset's cost" is the correct answer.
See IAS16 para 6 for definitions.
C
IFRS5 para 27 in effect requires an
entity ceasing to classify an asset as
held
for sale to remeasure it as if it had
never been held for sale, subject to
an
impairment test (the recoverable
amount test) at that date.