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MMLU-Pro / 5259 / A company’s first IFRS reporting period is for the year ended December 31, year…

Problem

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question

A company’s first IFRS reporting period is for the year ended December 31, year 2. While preparing the year 2 statement of financial position, management identified an error in which a 90,000lossaccrualwasnotrecorded.90,000 loss accrual was not recorded. 40,000 of the loss accrual related to a year 1 event and $50,000 related to a year 2 event. What amount of loss accrual should the company report in its December 31, year 1, IFRS statement of financial position?
Plain-text mathematical notation (without MathML)
A company’s first IFRS reporting period is for the year ended December 31, year 2. While preparing the year 2 statement of financial position, management identified an error in which a 90,000lossaccrualwasnotrecorded.40,000 of the loss accrual related to a year 1 event and $50,000 related to a year 2 event. What amount of loss accrual should the company report in its December 31, year 1, IFRS statement of financial position?
Original LaTeX notation
A company’s first IFRS reporting period is for the year ended December 31, year 2. While preparing the year 2 statement of financial position, management identified an error in which a $90,000 loss accrual was not recorded. $40,000 of the loss accrual related to a year 1 event and $50,000 related to a year 2 event. What amount of loss accrual should the company report in its December 31, year 1, IFRS statement of financial position?

category

other

options

  1. $90,000
  2. $50,000
  3. $10,000
  4. $80,000
  5. $30,000
  6. $0
  7. $60,000
  8. $20,000
  9. $40,000
  10. $70,000

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5259
task_id
2e394802-4e0e-5c19-9976-13d42a3979d3
task_key
default--test--5259
task_revision_id
1
config / split
default / test

Official source

initial import