AASB 9 Requires That on Initial Recognition,financial Assets and Liabilities

question 16

Multiple Choice

AASB 9 requires that on initial recognition,financial assets and liabilities be measured at:

• A)fair value.
• B)historical cost.
• C)net present value.
• D)lower of cost or market value.

---

Definitions:

Colour Vision

The ability of the visual system to distinguish objects based on the wavelengths (or frequencies) of the light they reflect, emit, or transmit.

Perceptual Set

A psychological predisposition or readiness to perceive certain aspects of available sensory data and ignore others, influenced by expectations, experiences, and context.

Sensory Readiness

The state or condition in which sensory systems are primed to detect and process stimuli.

Cognitive Interpretation

The process by which individuals perceive, process, and give meaning to information from their environment, influencing their thoughts, feelings, and actions.