1. In the year 2020, vvxtunarflagi hf. shares with a nominal value of 10,000 in Suurferir hf. for 215,000 and classified the investment as a financial asset for the collection of contractual cash flows and sales. At the end of 2020, the fair value of the shares in Suurferir hf. 289,000. vttunarflagi hf. sold the shares in Suurferir hf. in the year 2020 for 226,000. What is the realized profit from the sale of the shares in Suurferir hf.?

37,000

26,000

25,000

11,000

2.In the balance sheet of Erils hf. on December 31, 2019, the company's investment in listed bonds was recorded, at a cost of 500,000, 475,000 at fair value. On December 31, 2020, the fair value of the bonds was 492,500. What amount should Erill hf. to show in the income statement for the year 2020 due to an increase in the fair value of the investment?

Realized profit 17,500.

0.

Unrealized profit 17,500.

Unrealized loss 7,500.

3.Bonds that are bought but are intended to be sold in the near future are valued at:

cost price.

recoverable amount.

value.

depreciated cost.

4.Unrealized gains on investments held for the collection of contractual cash flows and sales should be shown in the financial statements as:

gains on the income statement due to securities holdings.

other comprehensive income and as part of equity in the balance sheet.

item that increases retained earnings.

item in notes or information in parentheses.

5.In 2019, Jaguar hf. share capital with a nominal value of 17,000 in Miklagil hf. for 382,500 as part of an investment in its portfolio held for trading. The fair value of these shares was 373,150 on December 31, 2019. Jagar hf. sold all the shares in Miklagil hf. for 27.25 per share on July 3, 2020 and paid 15,000 in the cost of the transaction. What is the profit of Jaguar hf. of the sale of the shares in 2020?

65,750

80,750

75,100

90,100

5.Each of the below items are notin includedmarket risk under IFRS 7?

Currency Risk

Liquidity risk

Price risk

Interest rate risk

6.What are the main objectives of IFRS 7?

Select one of the following items.

To set requirements for the disclosure of information about a company's risk to off-balance sheet items and other complex transactions.

To require information on the importance of financial instruments for a company's financial position and financial performance and qualitative and quantitative information on the risks arising from financial instruments.

To define requirements for presentation and disclosure of financial instruments.

To present the form of balance sheet and income statement for financial undertakings.