1. Stand-alone derivatives are financial instruments that are separate from the primary financial statements. *

True

False

2. Currency swap is a method of leverage method used by cooperative banks.*

True

False

3. In the separate financial statements of a parent entity, investments in subsidiaries that are not classified as held for sale should be accounted for using the equity method.*

True

False

4,The PFRS for SMEs does not require combined financial statements to be prepared.

True

False

5. Investments in subsidiaries, joint ventures, and associates are accounted for in the separate financial statements at cost, at fair value in accordance with PFRS 9 and using the equity method.

True

False

6. Joint control exists when no single party is in a position to control the activity unilaterally.

True

False