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CIMAPRA19-F01-1 Exam - Topic 2 Question 24 Discussion

If a parent entity is to be exempt from preparing consolidated financial statements it needs to satisfy certain conditions according to IFRS 10 Consolidated Financial Statements.Which TWO of the following are conditions that need to be satisfied to be exempt?
A) The parent entity is itself a wholly owned subsidiary of another entity. and B) The ultimate parent of the parent entity publishes consolidated financial statements which are publicly available.
C) The parent 's investment in its subsidiaries are all below 100%.
D) The parent entity has no more than 10 subsidiaries or associated entities.
E) The parent entity has subsidiaries, one or more of which publishes consolidated financial statements.

CIMAPRA19-F01-1 Exam - Topic 2 Question 24 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 24
Topic #: 2
[All CIMAPRA19-F01-1 Questions]

If a parent entity is to be exempt from preparing consolidated financial statements it needs to satisfy certain conditions according to IFRS 10 Consolidated Financial Statements.

Which TWO of the following are conditions that need to be satisfied to be exempt?

Show Suggested Answer Hide Answer
Suggested Answer: A, B

by Yoko at May 08, 2022, 11:40 PM

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Stevie
7 months ago
B is definitely a condition, but A seems a bit too simple.
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Francoise
7 months ago
I thought having subsidiaries meant you always need consolidated statements?
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Tequila
8 months ago
Wait, can a parent be exempt just because it's a subsidiary?
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Giuseppe
8 months ago
Totally agree, A and B make sense.
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Willard
8 months ago
A and B are the right conditions!
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Sheron
8 months ago
Hmm, I'm a bit confused. The question mentions disabling SSH access, so I'm not sure if that means we need to install something on the storage servers or the database servers. I'll have to think this through carefully.
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Stephania
8 months ago
I feel pretty confident about this one. The principle is saying that services need to be designed to be effective in any type of composition, not just ones of a specific size or complexity. A seems like the best answer.
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Mitsue
8 months ago
The key here is understanding how EVPN native operates. I believe the new MAC address will be sent as a Type 2 BGP route to the other PEs, so I'll go with option B.
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Gilma
8 months ago
This looks like a straightforward Citrix Web App Firewall configuration question. I think I can handle this one.
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