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- IAS 32 – Financial Instruments: Presentation 0%
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Question 1 of 10
1. Question
In accounting for a transfer of a financial asset that does not qualify for derecognition, the entity shall offset the transferred asset and the associated liability.
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Question 2 of 10
2. Question
Under which of the following conditions is offsetting more likely to be appropriate?
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Question 3 of 10
3. Question
According to IAS 32 an entity is permitted to offset financial assets and financial liabilities within a portfolio of forward contracts that involves different counterparties.
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Question 4 of 10
4. Question
Which of the following is not an example of financial asset?
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Question 5 of 10
5. Question
Which of the following is an example of financial liability?
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Question 6 of 10
6. Question
Which of the following is an example of derivative financial instrument?
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Question 7 of 10
7. Question
A put or call option to exchange financial assets or financial liabilities does not give the holder a right to obtain potential future economic benefits associated with changes in the fair value of the financial instrument underlying the contract.
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Question 8 of 10
8. Question
A contract to be settled in six months’ time in which one party (the purchaser) promises to deliver CU 1,000,000 cash in exchange for CU 1,000,000 face amount of fixed rate government bonds, and the other party (the seller) promises to deliver CU 1,000,000 face amount of fixed rate government bonds in exchange for CU 1,000,000 cash. During the six months, both parties have a contractual right and a contractual obligation to exchange financial instruments. What type of derivative financial instrument is this contract?
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Question 9 of 10
9. Question
Except as required by IFRS 15 Revenue from Contracts with Customers, a contract that involves the receipt or delivery of physical assets __________to a financial asset of one party and a financial liability of the other party __________ any corresponding payment is deferred past the date on which the physical assets are transferred.
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Question 10 of 10
10. Question
Which of the following does affect the classification of a preference share as an equity instrument or a financial liability?
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