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CIMAPRA19-F02-1 Exam - Topic 1 Question 20 Discussion

Which THREE of the following statements are true in relation to financial assets designated as fair value through profit or loss under IAS 39 Financial Instruments: Recognition andMeasurement?
A) Sharesin another entity held for short term trading purposes fall within this category. and B) Transaction costs in relation to these assets are expensed to profit or loss on acquisition. and E) The gain or loss on the subsequent measurement of these assets is recorded within profit for the year.
C) Transaction costs in relation to these assets areadded to theinitial cost of the asset on acquisition.
D) The gainor loss on thesubsequent measurement of these assetsisrecordedwithin other comprehensive income.
F) Oncethe asset has beensubsequentlymeasured to fair value an impairment review is undertaken.

CIMAPRA19-F02-1 Exam - Topic 1 Question 20 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam
Question #: 20
Topic #: 1
[All CIMAPRA19-F02-1 Questions]

Which THREE of the following statements are true in relation to financial assets designated as fair value through profit or loss under IAS 39 Financial Instruments: Recognition andMeasurement?

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Suggested Answer: A, B, E

by Junita at May 09, 2022, 03:31 AM

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Bulah
7 months ago
F seems off, do we really do an impairment review after fair value?
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Ilene
7 months ago
E sounds right to me, gains/losses go to profit for the year.
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Tawna
8 months ago
Wait, C is misleading. Costs aren't added to the asset, right?
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Dwight
8 months ago
I agree, B is also correct—transaction costs hit profit or loss.
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Xochitl
8 months ago
A is definitely true, shares for trading are fair value!
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Mammie
8 months ago
Hmm, this is a tricky one. I'll need to think through the different BPMN elements and their purposes.
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Carin
8 months ago
I think the answer is B. Filtering by Traffic Expression seems like the most logical way to limit the content in the NetProfiler Dashboard widgets.
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