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    Question

    Which of the following is not a financial asset in

    accordance with IND AS 109? 
    A Trade receivables Correct Answer Incorrect Answer
    B Investment in equity instruments Correct Answer Incorrect Answer
    C Loans receivable Correct Answer Incorrect Answer
    D Prepaid expenses Correct Answer Incorrect Answer
    E Cash Correct Answer Incorrect Answer

    Solution

    Assets (such as prepaid expenses) for which the future economic benefit is the receipt of goods or services, rather than the right to receive cash or another financial asset, are not financial assets. 

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