A no it is not allowed by the standard b yes if it is

a. No, it is not allowed by the standard. b. Yes, if it is held to collect the cash
flow and sell the asset. c. Yes, if it is not held for trading. d. Yes, if it is
irrevocably elected at initial recognition to present changes in other
comprehensive income and it is not held for trading.
A.
How can a debt instrument be classified? I. Financial Asset at Amortized Cost
II. Financial Asset at Fair Value through Other Comprehensive Income III.
Financial Asset at Fair Value through Profit or Loss a. I and II only b. I only c. I,
II and III d. II and III only
C.
How are financial assets initially measured? a. At Fair value plus/minus, if not
at fair value through profit and loss, transaction costs. b. At Face value
plus/minus, if at fair value through profit and loss, transaction costs. c. At Face
value plus/minus, if not at fair value through profit and loss, transaction costs.
d. At Fair value plus/minus, if at fair value through profit and loss, transaction
costs. (nx2)
A.
A soundly developed conceptual framework of concepts and objectives should
(D) all of these. increase financial statement users' understanding of and
confidence in financial reporting, enhance comparability among companies'

financial statements, and allow new and emerging practical problems to be
more quickly soluble.
Generally accepted accounting principles
(C) Derive their credibility and authority from general recognition and
acceptance by the accounting profession.
Which of the following is not true concerning a conceptual framework in
accounting?
Which of the following is not a benefit associated with the FASB conceptual
framework project?
(D) Objectives of financial reporting
The underlying theme of the conceptual framework is
Which of the following is not an objective of financial reporting? The objectives of financial reporting include all of the following except
to provide information that
Decision makers vary widely in the types of decisions they make, the methods
of decision making they employ, the information they already possess or can
obtain from other sources, and their ability to process information.
Consequently, for information to be useful there must be a linkage between
these users and the decisions they make. This link is
The overriding criterion by which accounting information can be judged is that
of