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- IFRS 13 – Fair Value Measurement 0%
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Question 1 of 10
1. Question
Which of the following is not an example of Level 2 inputs?
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Question 2 of 10
2. Question
Which of the following is not an example of Level 3 inputs?
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Question 3 of 10
3. Question
What should an entity consider with regards to fair value measurement when preparing disclosures to its financial statements?
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Question 4 of 10
4. Question
“The price that would be received to sell an asset or paid to transfer a liability.” What term agrees with this definition?
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Question 5 of 10
5. Question
What statement defines income approach as a fair value valuation technique?
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Question 6 of 10
6. Question
In which case transaction price is more likely to represent the fair value of an asset?
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Question 7 of 10
7. Question
Which of the following is true about present value techniques used to measure a fair value?
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Question 8 of 10
8. Question
In X’s accounting books the value of financial assets is $400 while their market value is $450. X wants to measure its financial assets at fair value. Which of the following adjustment does X need to book in order to correctly present its financial assets at fair value?
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Question 9 of 10
9. Question
A significant decrease in the volume or level of market activity for the asset or liability in relation to normal market activity for the asset or liability (or similar assets or liabilities) indicates that transactions in that market are not orderly.
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Question 10 of 10
10. Question
Y has an item of plant. On 1 January 201X the carrying amount of this item was $555 and its fair value – $585. In Y’s accounting policy all non-current assets have to be measured at fair value. By what amount should Y adjust its annual depreciation charge, provided that the remaining life of the plant on 1 January 201X was 3 years and that fair value adjustments were not calculated yet?
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