Financial Reporting - May 2026 RTP

1. What is the standalone selling price of the voucher? (a) %50 (b) %200 () %12 (d) % 11.32 2. | How much revenue will be recognised in teh current year for sale of groceries? (a) % 188.68 (b) %200 () %212 (d) Nil 14 Bay 2026 EXAMINATION 2026 EXAMINATION REVISION TEST PAPERS UE LE FINANCIAL REPORTING

3. At what value the liability or deferred revenue be recognised on initial sale of groceries? (a) 50 (b) % 200 (c) 12 (d) % 11.32

4. When will the liability or deferred revenue recognised at the time of initial sale be recognised as revenue? (a) The said liability will never be recognised as revenue (b) The said liability will be subsequently credited to revenue only when the customer purchases in future using the discount coupon or when the coupon expires. (c) The said liability will be subsequently credited to revenue when customer purchases in future even though he does not uses the discount coupon. (d)…

5. What would be the nature of the said liability and under which standard? (a) Financial liability under Ind AS 109 (b) Contingent liability under Ind AS 37 (c) Contract Liability under Ind AS 115 (d) Lease liability under Ind AS 116 15 EXAMINATION Ind AS 110: Consolidated Financial Statements

6. Following is the Balance Sheets of M Itd. and N Ltd. of two different dates: M Ltd. N Ltd. (As on (As on 31.3.20X2) | 31.12.20X1) z z ASSETS Non-current Assets Property, Plant and Equipment 6,50,000 4,05,000 Financial Assets Investments: 40,000 shares in N Ltd. 8,00,000 - 1,000 Debentures in N Ltd. 1,50,000 - Current assets: Inventory 2,00,000 3,50,000 Financial Assets Trade Receivables 1,50,000 2,65,000 Cash and cash equivalents 80,000 1,05,000 Total 20,30,000| 11,25,000 EQUITY AND LIABILITIES Equity Shares…

7. Find out total comprehensive income for 20X1-20X2 of V Ltd. from the following information: Profit from normal operations % 50,00,000 Remeasurement gains from defined benefit plans = 5,00,000 Gain on translation of foreign operations % 10,00,000 Revaluation gains on property, plant and equipment = 3,50,000 Fair value changes on financial assets = 450,000 17 EXAMINATION REVISION TEST PA Ind AS 12: Income Taxes

X Ltd. has 2 wholly owned subsidiaries A Ltd. and B Ltd. The company had acquired 100% equity of these companies as at 1%‘ April, 20X1. The investment was made as under: Company Invested | Profit (loss) | Profit (loss) | Profit (loss) on April 1, for the for the for the 20X1 FY 20X1- FY 20X2- FY 20X3- 20X2 20X3 20X4 z z z z A Ltd. 5,00,000 (50,000) (60,000) (70,000) B Ltd. 5,00,000 50,000 60,000 70,000 As at…

10. A Ltd. has incurred = 1,00,000 of research expenditure on a project to develop a new type of fuel and has expensed these costs. B Ltd. purchases the research project, including certain patents that have been registered by A Ltd., for = 1,50,000 and recognises an intangible asset. Subsequently, B Ltd. incurs = 2,00,000 of expenditure on completing the research phase and decides to develop the product commercially. It incurs a further = 3,00,000 of costs in bringing the…