QUESTION 1 (a) Consider the following accounts from the balance sheet: (i) (ii) (iii) (iv) (v) Accounts receivable Tax payable Accounts payable Long-term loan Issued capital Required: Classify each of the above accounts into Financial Asset (FA), Financial Liability (FL), or Equity instrument in accordance with NZ IAS 32. For those accounts that are neither FA, FL nor Equity instrument, state "Not Applicable" or "N/A. Explain the reasons for each of your classifications. (Total Maximum words: 120) (5 marks) QUESTION 1 (continued) (b) All three aspects of NZ IFRS 9 are the direct response from IASB to the global financial crisis back in 2008." Required: Explain whether the above statement is correct according to the interview video with IASB on Canvas under Modules/Lecture recordings and videos: Module 3 lecture recording 1. [Maximum words: 1501 (2 marks)