Which of the following is a financial instrument (that is. a financial asset, financial liability, or equity
Question:
(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...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Applying International Financial Reporting Standards
ISBN: 978-0730302124
3rd edition
Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise
Question Posted: