Which of the following is a financial instrument (that is. a financial asset, financial liability, or equity

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Which of the following is a financial instrument (that is. a financial asset, financial liability, or equity instrument in another entity) within the scope of IAS 39? Give reasons for your answer.
(a) Provision for employee benefits
(b) Deferred revenue
(c) Prepayments
(d) Forward exchange contract
(e) 3% investment in private company
(f) A percentage interest in an unincorporated joint venture
(g) A non-controlling interest in a partnership
(h)
A non-controlling interest in a discretionary trust
(i) An investment in associate
(j) A forward purchase contract for wheat to be used by the entity to make flour
(k) As for part (j), but the entity regularly settles the contracts net in cash or takes delivery of the underlying wheat and sells it shortly after making a dealer's margin
(l) Leases
(m) Trade receivables
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Applying International Financial Reporting Standards

ISBN: 978-0730302124

3rd edition

Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise

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