AASB 139 Stipulates How Financial Instruments Are to Be Recognised

question 44

Multiple Choice

AASB 139 stipulates how financial instruments are to be recognised and measured.Specifically these instruments could be:

• A) recorded at their fair value with any changes included in the period's profit or loss unless the instrument was acquired as a hedge.
• B) recorded at fair value with any changes recorded directly to equity and only transferred to profit when the asset is derecognised.
• C) measured and amortised at cost using the effective interest method.
• D) all of the given answers.

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Definitions:

Pachymeter

An instrument used in ophthalmology to measure the thickness of the cornea, important for assessing eye health.

Peripheral Pulses

The palpable heartbeat in peripheral parts of the body such as the wrists and ankles, indicating blood flow from the heart to different body parts.

Peripheral Vascular Disease

A circulatory disorder that causes reduced blood flow to the limbs due to narrowed blood vessels.

Dorsalis Pedis

An artery located on the top of the foot that supplies blood to the area, palpation of which can be important in assessing peripheral circulation.