Gains and Losses on Available-For-Sale Financial Assets Are Recognised Directly

question 14

Multiple Choice

Gains and losses on available-for-sale financial assets are recognised directly in equity until the financial asset is derecognised. Upon derecognition, the cumulative gain or loss previously recognised is:

• A) set-off against the relevant financial asset.
• B) recognised in profit or loss.
• C) transferred to a revaluation reserve account in equity.
• D) charged against a provision for gains and losses account.

---

Definitions:

Noir

A genre of film characterized by its dark, cynical tone, moral ambiguity, and visual style that emphasizes shadows and stark lighting contrasts.

Classical Studio Era

Period in Hollywood history, approximately from the 1920s to the 1950s, characterized by films produced and distributed by a few major studios.

Major Motion Pictures

Films produced by large studios with significant budgets, typically featuring well-known actors, and intended for a wide theatrical release.

Middle-management Executive

A professional who manages the day-to-day operations of a company and is responsible for bridging the gap between the executive management and the company's lower-level employees.