Which of the Following Statements Is FALSE

question 5

Multiple Choice

Which of the following statements is FALSE?

• A)Entities are required to present non-strategic investments in equity as financial assets.
• B)Financial assets under IFRS 9 are shown at fair value with the difference in fair value going through income.
• C)Entities may make an irrevocable election to show the gains and losses of financial assets through other comprehensive income.
• D)Under ASPE, all financial investments in shares are reflected at fair value unless the shares trade in a public market.

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Definitions:

Acceptance

The psychological process of acknowledging reality or the truth of a situation without attempting to change it, resist it, or escape from it.

Trigger

Anything (event, situation, or object) that initiates a psychological or emotional reaction, often related to trauma or stress.

Validity

The extent to which an instrument, test, or study accurately measures what it is intended to measure.

Psychotic Symptoms

Manifestations typically associated with disorders like schizophrenia, including delusions, hallucinations, and disorganized thinking.