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An entity shall report for each reportable operating segments a

measure of all of the following, except
Question 1 options:
Total Assets

Liabilities if such amount is regularly provided to the CODM

Net assets

Profit of loss

Question 2 (1 point)
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What is correct concerning the 75% overall size test for operating
segments?
Question 2 options:
The total external and internal revenue of all reportable segments is 75% or more of the entity's external
revenue.
The total internal revenue of all reportable segments is 75% or more of the entity's internal revenue.
The total external revenue of all reportable segments is 75% or more of the entity's external and internal
revenue.
The total external revenue of all reportable segments is 75% or more of the entity's external revenue.
Question 3 (1 point)
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Statement 1 : An interim financial report may consist of a complete set
of financial statements

Statement 2 : An interim financial report may consist of a condensed

set of financial statements
Question 3 options:
True, False
False, True
False, False
 True, True
Question 4 (1 point)
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The required approach for handling unusual items in interim financial
reports is to
Question 4 options:
Charge or credit the loss or gain in the quarter that they occur
Disclose them only in the selected explanatory notes
Prorate them over all four quarters
Prorate them over the current and remaining quarters
Question 5 (1 point)
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Under PFRS 8, which of the following is not a required entity-wide
disclosure?
Question 5 options:
Information about geographical areas
Information about products and services
Information about intersegment sales
Information about major customers
Question 6 (1 point)
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Under PFRS 8, if revenues from transactions with a single external customer amount to 10 percent or more of an
entity's revenue, the entity shall disclose:

I. The total amount of revenues from each such customer

II. The entity of the segments reporting the revenues
III. The entity of the major customers
IV. The amount of revenues that each segment reports from major customer

Question 6 options:
I, II, and III
I and II
I, II, III, and IV
 I only
Question 7 (1 point)
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On January 1, 2023, Bob The Builder Company entered into a Php 20,000,000 long -term fixed price contract to
construct a factory building. The entity accounted for this contract under the percentage of completion at the
end of each quarter for 2023. The accumulative data for the year are:

Quarter Percentage of Completion Estimated Cost

1 10% 15,000,000.00
2 10% 15,000,000.00
3 25% 19,200,000.00
4 25% 19,200,000.00
No work was performed in the second and fourth quarters. What amount should be reported as
income/(loss) on construction contract in the quarters 1, 2, 3 and 4 respectively?

Question 7 options:
Zero; zero; zero; 200,000
500,000; zero; (300,000); zero
500,000; zero; zero; zero
500,000; zero; (120,000); zero
Question 8 (1 point)
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The interim financial report is intended to
Question 8 options:
Correct error discovered subsequent to the release of the financial statements
Provide an update on the latest complete set of annual financial statements
Provide information that are requested by the investors in relation to a planned initial public offerings
Provide additional information not disclosed previously in the annual financial statements
Question 9 (1 point)
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The company and its divisions are engaged solely in manufacturing operations. The following data pertain to the
industries in which operations were conducted for the current year:

Industry Revenue Profit Assets

A 10,000,000.00 1,750,000.00 20,000,000.00
B 8,000,000.00 1,400,000.00 17,500,000.00
C 6,000,000.00 1,200,000.00 12,500,000.00
D 3,000,000.00 550,000.00 7,500,000.00
E 4,250,000.00 675,000.00 7,000,000.00
 F 1,500,000.00 225,000.00 3,000,000.00
32,750,000.00 5,800,000.00 67,500,000.00
How many reportable segments does the company have?

Question 9 options:
4
5
6
3
Question 10 (1 point)
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What is the approach prescribed by PFRS 8 in identifying an operating
segment?
Question 10 options:
Management approach
Matrix presentation approach
Geographical segment approach
Business segment approach