Test 1

1. Fa
2. I
3. I
4. Na
5. I,FA
6. I, FA
7. I, FA
8. I , FA
9. I , FA
10. I

TEST 2

TEST 3

B
A—

2 TYPES OF INVESTMENT CLASSIFIED AS FINANCIAL ASSETS

EQUITY SECURITIES

DEBT SECURITIES

TEST 4

PAS 32 FINANCIAL INSTRUMENT- PRESENTATION

D--

TEST 1. Identify the following: Write "I" for Investment, "FA" for Financial Asset and "N" for Neither
Investment nor Financial Asset

1. Cash
2. Investment of precious stones

3. Leased Assets

4. Prepaid Expenses

5. Investment in Ordinary shares bought for cash

6. Investment in preference shares bought in exchange for an equipment.

7. Equity securities bought for the purpose of trading.

8. Buy and sell of debt securities.

9. Equity securities that are not for trading and not quoted in market.

10. Land held for Capital Appreciation.

TEST 2 Initial measurement of Financial Asset. Choices A. FAIR VALUE B. FAIR VALUE PLUS TRANS. COST
C. COST

1. Equity securities held for trading

2. Debt securities held for the purpose of buying and selling.

3. Unquoted Equity Securities.

4. Financial asset that are held in order to collect contractual Cash flows

5. Debt securities that are irrevocably elected to be measure at FVPL

7. Equity securities that are irrevocably elected to be measure at FVOCI

8. Financial asset Held to Maturity

9. Investment in Bonds

10. Financial Asset Held in order to collect contractual cash flows and to sell it.

TEST 3 Choices: A. FVPL B. FVOCI C. AMOTIZED COST

1. Buy and sell of equity securities

2. Debt instruments held for trading

3. Debt instruments by irrevocable election

4. Equity securities by irrevocable election

5. Debt securities held to maturity

6. Financial asset held in order to collect contractual cash flows and to sell it.

7. Financial Assets not held for trading

Two types of investments classified as financial Assets. 1. 2.

TEST 4. Choices: A. Unrealized Gains/Losses B. Gains/losses C. No unrealized gains/losses recognized.

1. Fair value changes of financial assets measured at FVPL

2. Fair value changes of Financial Asset measured at FVOCI

3. Sale of trading securities

4. Sale of financial asset measured at Amortized Cost

5. Sale of equity securities measured at FVOCI

6. Sale of debt security measured at FVOCI

7. Fair value changes of debt securities measured at Amortized cost.