SCENARIO A Bobby Ltd entered the following transactions during the year ended 31 December 20X6: On 1 January 20x6 the company issued a 10 million 2% convertible loan at par, with interest payable annually in arrears (Assume a discount factor of 8%). The loan is repayable in full after four years on 31 December 20X9, or may be converted to equity on the basis of 70 shares per 100 of loan. On 15 December 20x6 Bobby Ltd purchased 100,000 shares in Cobby Ltd for 4.50 per share, incurring transaction fees of 15,000. These shares are held for trading purposes. As at 31 December 20X6, the shares are trading at 5 each. On 1 October 20X6 Bobby Ltd purchased 80,000 shares in Freddy Ltd (representing a 6% shareholding), for 5 per share, incurring transaction costs of 15,000. The present value of 1 payable at the end of the year, based on rates of 8% is as follows: End of year DF 8% 1 0.93 2 0.86 3 0.79 4 0.74 Which of the following is NOT a financial asset? - SCENARIO A Select one: a. Cash b. Trade Receivables C. Equity investment d. Prepayment for insurance