. With regard to IAS 10 Property Plant and Equipment, which of the following statements is true? A Any assets where management believe the carrying amounts and market values are materially different may be revalued B Assets which are carried under the revaluation model must be revalued every five years Increases in value on an initial revaluation are always credited directly to equity The fair value of tand and buildings must be determined on an existing use basis D On 3 October 20X6, Corbin Ltd issued 100,000 5% redeemable GHS I preference shares. These shares are redeemable on 3 October 2011 In accordance with IAS 32 Financial Instruments Presentation, how will these shares and their related dividend be shown in Corbin Lid's financial statements for the year ended 31 December 20X6? Shares Dividend A Non-current liabilities Income statement B Non-current liabilities Statement of changes in equity Equity Income statement D Equity Statement of changes in equity 1. On 5 March 20x7. Marchant Ltd issued 200,000 5% irredeemable GHS I preference shares. In accordance with IAS 32 Financial Instruments Presentation, how will these shares and their related dividend be shown in Marchant Lid's financial statements for the year ended 31 March 20X7? Shares Dividend Non-current liabilities Income statement B Non-current liabilities Statement of changes in equity Equity Income statement D Equity Statement of changes in equity 1 According to IAS 32 Financial Instruments Presentation, which of the following could be classified as financial assets? Bank overdraft Cash at bank Inventories A current asset investment 15. A forward contract A B (1). (2) and (5) (2). (4) and (5) (2) and (4) (3), (4) and (5) D