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Is it true that all financial liabilities and financial assets measured at amortised cost includes transaction cost ? This was stated in the answer key of my exam kit.
Because in my textbook, it states that for financial liability at amortised cost , for initial measurement ,its
Fair value less transaction cost
Therefore, the statement right at the top cant be true right ?
“…all financial liabilities and financial assets measured at amortised cost includes transaction cost”
The use of the word “includes” in the above extract means that the assets and the liabilities are shown NET of those costs
OK?
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