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Under IFRS 9, the cumulative balance of equity as a result of measuring financial assets at fair value through other comprehensive income

Under IFRS 9, the cumulative balance of equity as a result of measuring financial assets at fair value through other comprehensive income

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Under IFRS 9, the cumulative balance of equity as a result of measuring financial assets at fair value through other comprehensive income shall be reversed to profit or loss at the date the security is sold shall be reversed to profit or loss when there is objective evidence of impairment shall not be reversed to profit or loss but may be transferred to another equity account shall not be reversed to profit or loss and may not be transferred to another equity account
Transcribed Image Text:Under IFRS 9, the cumulative balance of equity as a result of measuring financial assets at fair value through other comprehensive income shall be reversed to profit or loss at the date the security is sold shall be reversed to profit or loss when there is objective evidence of impairment shall not be reversed to profit or loss but may be transferred to another equity account shall not be reversed to profit or loss and may not be transferred to another equity account
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