36. Subsequent to their initial recognition, which financial assets with quoted market prices in an active market are measured at fair value? Financial assets Financial Assets with fair values through at amortized cost profit or loss a. b. C. d. Yes Yes No No No Yes Yes No
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- Which of the following is not one of the components of other comprehensive income? a. changes in revaluation surplus b. remeasurements of the net defined benefit liability (asset) unrealized gains and losses on FVPL c. translation gains and losses on foreign operation d. effective portion of gains and losses on hedging instruments on a cash flow hedgeWhich of the following is measured at fair value with fair value changes recognized in profit or loss? a. held to maturity investments b. financial assets designated at FVPL c. FVOCI d. all of thesechoose the correct answer: Equity security acquired for trading should be measured at reporting date a. cost, being the purchase price b. cost, being the purchase price plus transaction costs c. fair value, with change in FV taken through profit or loss. d. fair value, with change in FV taken through other comprehensive income.
- Charges in the fair value of the effective portion of a hedging financial instrument are recognized as a part of current earnings of the period for which of the following? Cash Flow Hedge Far Value Hedge a b с d yes no yes no yes yes no noFinancial liabilities that are classified as amortized cost are subsequently measured at A. Partly at profit or loss and partly at other comprehensive income depending on the risk. B. Fair value with changes in value recognized in other comprehensive income. (FVPL) C. Fair value which changes in value recognized in profit or loss. (held for trading) D. The present value of the remaining cash flows of the instrument discounted at the original effective interest rate.The market which deals with short term financial assets Select one: a. Commercial Market b. Primary Market c. None of the options d. Secondary Market e. Capital Market
- Under what cisrcumstances under PFRS 9 can an entity classify financial assets that meet the amortized cost criteria as at FVTPL? A. where the business model approach is adopted B. where the financial asset passes the contractual cash flow characteristics test C. where the instrument is held to maturity D. if doing so eliminates or reduces an accounting mismatchWhat is the default classification for an equity investment? A Fair value through profit or loss B Fair value through other comprehensive income C Amortised cost D Net proceeds4. Financial liabilities other than FVPL liabilities are initiallymeasured at fair value plus transaction costs.5. Amortized cost financial liabilities are subsequently measuredat the present value of the cash outflows from the instrument.6. Financial liabilities may be subsequently reclassified betweenthe amortized cost and fair value measurement categories.7. Trade payables and other liabilities that are part of an entity'sworking capital may be presented as current liabilities even ifthey are expected to be settled beyond one year.8. According to PAS 1, a currently maturing debt that the entity'smanagement intends to refinance is presented as noncurrent.9. According to PFRS 15, if an entity expects that a portion of giftcertificates sold will not be redeemed, the entity recognizes theexpected breakage amount as revenue in proportion to thepattern of rights exercised by customers.10. Unearned revenue is revenue that is earned but not yet collected Please answer this all. Thank you
- Current LiabilitiesPROBLEM 1: TRUE OR FALSE4. Financial liabilities other than FVPL liabilities are initiallymeasured at fair value plus transaction costs.5. Amortized cost financial liabilities are subsequently measuredat the present value of the cash outflows from the instrument.6. Financial liabilities may be subsequently reclassified betweenthe amortized cost and fair value measurement categories.7. Trade payables and other liabilities that are part of an entity'sworking capital may be presented as current liabilities even ifthey are expected to be settled beyond one year.8. According to PAS 1, a currently maturing debt that the entity'smanagement intends to refinance is presented as noncurrent.9. According to PFRS 15, if an entity expects that a portion of giftcertificates sold will not be redeemed, the entity recognizes theexpected breakage amount as revenue in proportion to thepattern of rights exercised by customers.10. Unearned revenue is revenue that is earned but not yet…Which of the following is not a category of financial assets under GAM? Group of answer choices A.Held to maturity investments B.Available for sale financial assets C.Financial asset at fair value through other comprehensive income D.Loans and receivableQ11 Which of the following options is INCORRECT regarding financial assets and the subsequent measurement model(s)? Select one: a. Financial Asset: Equity instrument Management Intention: Realise fair value changes Measurement Model: Fair value, adjustments in OCI _ b. Financial Asset: Debt instrument Management Intention: Earning contractual cash flows Measurement Model: Amortised cost _ c. Financial Asset: Equity instrument Management Intention: Realise fair value changes Measurement Model: Fair value, adjustments in SPL _ d. Financial Asset: Debt instrument Management Intention: Earning contractual cash flows Measurement Model: Fair value, adjustments in OCI _