These are conditions required by IFRS 9 for notes and accounts receivable to be measured at amortized cost. I.  The financial asset is held within the enterprise's business model whose objective is for trading purposes. II.  The financial asset is held within the enterprise's business model whose objective is to hold assets in order to collect contractual cash flows. III.  The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest.     a. I and II only b. II and III only c. I and III only d. I, II and III

Principles of Accounting Volume 1
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Author:OpenStax
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Chapter16: Statement Of Cash Flows
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Problem 1MC: Which of the following statements is false? A. Noncash activities should be reported in accrual...
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17.These are conditions required by IFRS 9 for notes and accounts receivable to be measured at amortized cost.

I.  The financial asset is held within the enterprise's business model whose objective is for trading purposes.
II.  The financial asset is held within the enterprise's business model whose objective is to hold assets in order to collect contractual cash flows.
III.  The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest.
 
 
a. I and II only
b. II and III only
c. I and III only
d. I, II and III
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