IBPS PO General Awareness: Accounting Standards questions with solutions

Q1. Ind AS 105 relates to?

1. Revenue Recognition
2. Consolidated Financial Statements
3. Non-Current Assets held for sale and Discontinued Operation
4. Leases

Answer: Non-Current Assets held for sale and Discontinued Operation

Ind AS 105 deals with non-current assets held for sale and discontinued operations. It specifies how such assets are classified, measured, and presented in financial statements.