In measuring an equity instrument at fair value the objective is to estimate an exit price at             measurement date from the perspective of: *1 pointthe party who intends to repurchase the instrument.a market participant who holds the instrument as an asset.the party to whom the instrument will be transferredthe issuer of the equity instrument

The fair value of an equity instrument is based on determining a/an_________ price which may relate to the price paid for an entity to repurchase its shares.*1 pointexittransfersettlemententry

Which of the following category of financial assets is measured at fair value through profit or loss?Answer :Equity instruments held for trading  Debt instruments held for interest and principal    Invesment in debt instruments that met the business model and contractual  cash flow tests   Receivables

The IASB's fair value measurement establishes a fair value hierarchy in which the highest attainable level of input must be used to establish the fair value of an asset or liability. The highest level is: The IASB's fair value measurement establishes a fair value hierarchy in which the highest attainable level of input must be used to establish the fair value of an asset or liability. The highest level is: Directly observable inputs of similar assets or liabilities. Mark to model situations where risk-adjusted valuation models are used. The exit price at the accounting date and on the basis of orderly sales. Unadjusted quoted prices in active markets for identical assets and liabilities.

Changes in the fair value of an equity instrument are recognized in the financial statements.Select one:TrueFalse

A financial asset is recognised whenAnswer : risks and rewards are transferred  it is probable that future economic benefits will flow to the entity and the cost of the instrument can be measured reliably   control is obtained   the entity becomes a party to a contractual provision of the instrument