NSWER 1 AND 2 TY 1. At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument that is Choices A derivative. None of the choices. On initial recognition is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Acquired principally for the purpose of selling it in the near term. 2. PFRS 9 permits an entity to make an irrevocable election to present in other comprehensive income changes in the fair value of an investment in an equity instrument. Amounts presented in other comprehensive income I. May be subsequently transferred to profit or loss. II. Shall be subsequently transferred to retained earnings. Choices Neither I nor II. II only. Either I or II. I only.
ANSWER 1 AND 2 TY
1. At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument that is
Choices
A derivative.
None of the choices.
On initial recognition is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking.
Acquired principally for the purpose of selling it in the near term.
2. PFRS 9 permits an entity to make an irrevocable election to present in other comprehensive income changes in the fair value of an investment in an equity instrument. Amounts presented in other comprehensive income
I. May be subsequently transferred to profit or loss.
II. Shall be subsequently transferred to
Choices
Neither I nor II.
II only.
Either I or II.
I only.
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