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What amount financial asset measured on initial recognition

Assignment Help Financial Accounting
Reference no: EM132496062

Question 1: Which of the following is not a category of financial assets defined in IFRS 9?

a. Loans and receivable

b. Financial at fair value through accumulated profit or loss

c. Financial assets at fair value through other comprehensive income

d. Financial assets at fair value through profit or loss

Question 2: At what amount is a financial asset or financial liability measured on initial recognition?

a. Zero

b. The consideration paid (received) for the financial asset (financial liability)

c. Acquisition costs, which is the consideration paid plus any directly attributable costs

d. Fair value. For items that are not measured at fair value through profit or loss, transaction costs are also included in the initial measurement.

Question 3: Under IFRS 9, an entity shall measure a note after initial recognition at

a. Amortized cost

b. Fair value through profit or loss

c. Either amortized cost or fair value through profit or loss

d. Either amortized cost or fair value through other comprehensive income

Question 4: Which of the following categories of financial assets is measured at fair value in the balance sheet?

a. Loans and receivables

b. Debt investment at amortized cost

c. Financial assets at fair value through other comprehensive income

d. Investments in unquoted equity instruments

Reference no: EM132496062

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