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Hi, Quick question in relation to IFRS9
Which of the following meet the definition of a financial asset in accordance with IFRS 9 Financial Instruments?
(1) An equity instrument of another entity
(2) Any contract which evidences a residential interest in the assets of an entity after deducting all of its liabilities
(3) A contract to exchange financial instruments with another entity under conditions which are potentially
unfavourable
(4) CashA (1) and (2) only
B (1) and (4) only
C (1), (3) and (4)
D (4) onlyshowing correct answer as B but what im wondering is if option 2 was worded “residual” as opposed to “residential” would it also be included as this would be the definition of an equity instrument or am I missing something?
Thanking you
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