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WorksheetsInvestment in Equity
Total questions: 10
Worksheet time: 5mins
Which of the following is the first order of priority in recording acquisition of equity shares
Fair value of the asset received
Fair market value of the asset given
Carrying amount of the asset given
carrying amount of the asset received
All investments in equity instruments shall be measured at fair value?
TRUE
FALSE
Upon derecognition of financial assets measured at fair value through profit or loss, the difference between consideration received and the carrying amount shall be recognized in other comprehensive income
TRUE
FALSE
The following are dividend income except
Property dividends
liquidating dividends
Shares received in lieu of cash
Cash dividends
When to recognized dividend as income?
Upon issuing of shares
Upon date declaration
Upon date of record
Upon date of payment
A shareholder may received a share dividends which is different from the original shares?
TRUE
FALSE
It refers to a transaction whereby the outstanding shares are called in and replaced by a large number accompanied by a reduction in the par or stated value of each share?
Special assessments
Investment in unquoted equity instruments
Split up
Share right
Accounting for share rights may account for the following
Accounted for separately
No accounted for separately
Both
Neither of the two
Share rights accounted for separately are normally classified as
Share capital
Current asset
Non-current asset
Liability
If the shares rights were not exercised and expired, what is the journal entry?
A credit to investment in equity instruments
Memorandum entry
A debit on loss on share rights
none of the above
