Changes in the fair value of an equity instrument are recognized in the financial statements.Select one:TrueFalse

The fair value of an equity instrument is based on determining a/an_________ price which may relate to the price paid for an entity to repurchase its shares.*1 pointexittransfersettlemententry

The following statement is true for financial assets  measured at fair value through other comprehensive incomeAnswer :Fair value is recognised at the year end   Fair value changes are reflected in other comprehensive income Transaction cost is included as part of initial measurment   All of the above

Which of the following category of financial assets is measured at fair value through profit or loss?Answer :Equity instruments held for trading  Debt instruments held for interest and principal    Invesment in debt instruments that met the business model and contractual  cash flow tests   Receivables

Indicate whether the following statement is true or false:Income and expenses are elements that will arise if there has been a change (increase/ decrease) in the entity’s assets, liabilities or equity.Select one:TrueFalse

In measuring an equity instrument at fair value the objective is to estimate an exit price at             measurement date from the perspective of: *1 pointthe party who intends to repurchase the instrument.a market participant who holds the instrument as an asset.the party to whom the instrument will be transferredthe issuer of the equity instrument