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Good evening. I need help with these questions. An elaboration of the answers would be nice.
1. Which of the following items is not precluded from classification as financial assset at amortized cost?
a. An investment in an unquoted equity instrument.
b. An investment in a quoted equity instrument.
c. A quoted derivative financial asset.
d. An investment in a quoted debt instrument.
2. An entity purchased equity shares of another entity not for the purpose of selling and repurchasing but to be held as long-term investment. The most appropriate classification of this equity investment is
a. Financial asset at fair value through profit or loss
b. Financial assetcheld for trading
c. Financial asset at fair value through other comprehensive income
d. Amortized cost
3. An entity acquired listed equity shares representing a small percentage for the purpose of selling or repurchasing them in the near term. What is the appropriate classification of this investment?
a. Financial assets at amortized cost
b. Financial assets at fair value through other comprehensive income
c Financial assets at fair value through profit or loss
d. Financial assets held for trading
Source : IFRS
1. Which of the following items is not precluded from classification as financial assset at amortized cost?
a. An investment in an unquoted equity instrument.
b. An investment in a quoted equity instrument.
c. A quoted derivative financial asset.
d. An investment in a quoted debt instrument.
2. An entity purchased equity shares of another entity not for the purpose of selling and repurchasing but to be held as long-term investment. The most appropriate classification of this equity investment is
a. Financial asset at fair value through profit or loss
b. Financial assetcheld for trading
c. Financial asset at fair value through other comprehensive income
d. Amortized cost
3. An entity acquired listed equity shares representing a small percentage for the purpose of selling or repurchasing them in the near term. What is the appropriate classification of this investment?
a. Financial assets at amortized cost
b. Financial assets at fair value through other comprehensive income
c Financial assets at fair value through profit or loss
d. Financial assets held for trading
Source : IFRS