Which of the following is not a characteristic of a financial asset held for trading? a. It is acquired principally for the purpose of selling or repurchasing it in the near ter b. On initial recognition, it is part of a portfolio of financial assets that are managed together and for which there is evidence of a recent actual pattern of short-term profi taking. c. It is a derivative that is not designated as an effective hedging instrument. d. It is a derivative that is designated as an effective hedging instrument.

Which of the following is not a characteristic of a financial asset held for trading? a. It is acquired principally for the purpose of selling or repurchasing it in the near ter b. On initial recognition, it is part of a portfolio of financial assets that are managed together and for which there is evidence of a recent actual pattern of short-term profi taking. c. It is a derivative that is not designated as an effective hedging instrument. d. It is a derivative that is designated as an effective hedging instrument.

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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