CIMA Exam CIMAPRA19-F02-1 Topic 1 Question 20 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam

Question #: 20
Topic #: 1

Which THREE of the following statements are true in relation to financial assets designated as fair value through profit or loss under IAS 39 Financial Instruments: Recognition andMeasurement?

ASharesin another entity held for short term trading purposes fall within this category.

BTransaction costs in relation to these assets are expensed to profit or loss on acquisition.

CTransaction costs in relation to these assets areadded to theinitial cost of the asset on acquisition.

DThe gainor loss on thesubsequent measurement of these assetsisrecordedwithin other comprehensive income.

EThe gain or loss on the subsequent measurement of these assets is recorded within profit for the year.

FOncethe asset has beensubsequentlymeasured to fair value an impairment review is undertaken.

Show Suggested Answer

Suggested Answer: A, B, E

by Junita at May 09, 2022, 03:31 AM

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