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CIMAPRA19-F01-1 Exam - Topic 2 Question 31 Discussion

Which of the following is a condition that has to be met for an entity to be exempt the requirement to prepare consolidated financial statements?
A) The parent entity's debt or equity instruments are not traded in a public market.
B) The parent entity's equity instruments are only traded in one country.
C) The parent's equity has a nominal value of less than $1 million.
D) The parent's net asset value is less than $1 million.

CIMAPRA19-F01-1 Exam - Topic 2 Question 31 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 31
Topic #: 2
[All CIMAPRA19-F01-1 Questions]

Which of the following is a condition that has to be met for an entity to be exempt the requirement to prepare consolidated financial statements?

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Suggested Answer: A

by Jade at May 07, 2022, 07:05 AM

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Angella
10 months ago
A is the most common reason for exemption, no doubt about it.
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Janet
10 months ago
Wait, D? Less than $1 million? That seems too easy to qualify!
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Shawnda
11 months ago
C is definitely a condition, but it seems too low.
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Ryan
11 months ago
I disagree, I think B could also be a valid reason.
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Rosalind
11 months ago
A is correct, no public trading means no consolidation needed.
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Chana
11 months ago
Hmm, I'm not too sure about this one. The options don't seem super familiar to me. I might have to take a guess and hope for the best.
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Freeman
11 months ago
Okay, I think I've got this. Implementing VLAN technology would allow me to segment the network and apply security policies to each subnet. That should help safeguard against threats while also enabling NAS failover.
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Lai
11 months ago
I vaguely remember the term "passthru" being significant for fax calls. I should probably go with option A!
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