Transaction costs incurred the effective interest rate to be used for amortization of an investment in debt security accounted for as, A. Increase; Fair value through profit or loss B. Decrease; Amortized cost C. Increase; Fair value through other comprehensive income D. Does not affect; Amortized cost
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- 2. Which of the following correctly matches the classification of the debt investment with its initial measurement? Classification Initial measurement A. Fair value through other comprehensive income B. Amortized cost C. Fair value through profit or loss Fair value Fair value plus transaction costs Fair value minus transaction costs D. None of the aboveDebt investment are initially recorded at: Cost Cost plus accrued interest Fair value None of the aboveA gain or loss from debt restructuring should be A. treated as increase or decrease in Paid-in Capital B. recognized in income of the period of restructuring C. amortized over the remaining original life of the restructured loan D. allocated between the portion that is an increase (decrease) in Paid-in Capital and a portion that is recognized in the current income
- Loans and receivable should be measured subsequent to initial recognition at * a. Amortized cost using the straight line method b. Fair value c. Fair value plus transaction cost d. Amortized cost using the effective interest methodwhat of the following is the correct calculation for interest cover : a- total debt / interest payable b- interest payable / total debt c- operating profit / interest payable d- interest payable / operating profit7. Which of the following is not one of the factors impacting the borrowing rate of repo assets? OA Quality of the collateral OB. Terms of the repo OC. Delivery requirements O D. Denomination of the asset OE Seasonal factors
- Question 3. Classify each of the following accounts as (a) asset, (b) liability, or (c) equity. a.→Defined benefit obligation b.→Plan asset c.→Right-of-use asset d.→Contract asset e.→ Unearned revenue f.→ Deferred tax asset g.→Accumulated other comprehensive losseWhich of the following transaction costs will not be included in the pro-forma adjustment to net earnings? Debt refinancing premium Other transaction costs Equity financing fees Amortization of debt financing fees1. Which of the following may be measured subsequently at amortized cost?a. None of theseb. A non-derivative equity instrumentc. A derivalived. A non-derivative debt instrument 2. An investment in equity instrument may not be classified as a financial asset subsequently measured ata. Fair value through other comprehensive incomeb. Amortized costc. Fair value through proft or lossd. None of these 3. Significant influence isa. The contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.b. The power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.c. The power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.d. Deemed to exist when the investor is exposed, or has rights, to variable returns from its involvement with the…
- Typically, the estimated amount available for short-term payments in a statement of affairs (financial statement) a.Carrying amount b.Current fair value c.Zero d.Net realizable value4. 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 youInterest revenue for debt investments at fair value through other comprehensive income is computed based on the instruments’ a. face value using the effective interest rate. b. face value using the nominal interest rate. c. carrying amount using the effective interest rate. d. carrying amount using the nominal interest rate.
