CA Final · Financial Reporting · Consolidated Financial Statements
A student notices that paragraphs 4(b) and 4(c) of Ind AS 110 appear as 'Deleted'. What is the reason given in the Ind AS 110 comparison with IFRS 10?
Paragraphs 4(b) and 4(c) appear as 'Deleted' in IFRS 10 itself. Ind AS 110 retains the same paragraph numbers, shown as deleted, so that its numbering stays consistent with IFRS 10, rather than because of any replacement standard or Act.
- AThey were withdrawn by the Companies Act, 2013
- BThey appear as 'Deleted' in IFRS 10, and the paragraph numbers are retained in Ind AS 110 to keep consistency with IFRS 10 numberingCorrect
- CThey are replaced by Ind AS 27
- DThey are replaced by Ind AS 101 transitional provisions
Explanation
The paragraph numbers appear as 'Deleted' in IFRS 10 and are retained in Ind AS 110 to keep its paragraph numbering consistent with IFRS 10. The other reasons are not stated. Transitional provisions are in Ind AS 101, but that concerns Appendix C, not paragraphs 4(b) and 4(c).
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