Reference no: EM132623866

Problem 1: AASB 9, paragraphs 5.7.7 and 5.7.8 require that gains or losses on financial liabilities designated at fair value through profit or loss are to be split into the amount of the change in fair value that relates to changes in the credit risk of the liability, which shall be presented in _________, _and the remaining amount of the change in fair value of the liability shall be presented in _______?

Option 1: other comprehensive income; profit or loss

Option 2: profit or loss; other comprehensive income

Option 3: liabilities; profit or loss

Option 4: liabilities; other comprehensive income

Problem 2: A derivative is a financial instrument or other contract within the scope of AASB 9 with which of these characteristics?

Option 1: It is settled at a future date.

Option 2: Its value is predetermined.

Option 3: It requires huge investments.

Option 4: All of the given answers are correct.