Question 1:According to IFRS 10, which one of the following reasons requires a parent not to present

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Question 1:According to IFRS 10, which one of the following reasons requires a parent not to present consolidated financial statements.a) It is a wholly – owned subsidiary or is partially owned subsidiary of another entity and its other owners, including those not otherwise entitled to vote, have been informed about, and do not object to , the parent not presenting consolidated financial statements.b) Its debt or equity instruments are not traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets)c) It did not file, nor is it in the process of filing, its financial statements with a security commission or other regulatory organization for the purpose of issuing any class of instrument in a public market.d) All of the above.Question 2The parent has acquired 12,000 $1 shares in the subsidiary by issuing 5 of its own $1 shares for every 4 shares in the subsidiary. The market value of the parent company’s share is $6. The cost of investment is:a) 90,000b) 92,000c) 95,000d) 99,000Question 3Which of the following is not a part of the consolidated process?a) Combine like items of assets and labilities of the groupb) Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of each subsidiaryc) Combine share capital of parents and subsidiaryd) Show the parent’s share capital and group reservesQuestion 4Minority interest is also known as:a) Controlling interestb) Non-controlling interestc) Both (A) and (B)d) None of the aboveQuestion 5The consolidated balance sheet of Big Ltd has the following capital structure:$1 Ordinary shares $’000Retained earnings 55,000 12,000 67,0006% $1 cumulative redeemable preference share 15,0008% loan notes 30,000 112,000The most appropriate measure of the debt/equity ratio for a potential equity investor is:a) 67.2%b) 81.8%c) 59.82%d) None of the above