The accounting standard that applies to financial assets that consist of 'small holdings' of shares held as non-current assets is:

Question

Quizplus · Accepted Answer

AASB 139 'Financial Instruments: Recognition and Measurement' is the accounting standard that applies to financial assets, including shares, held as non-current assets. AASB 116 'Property, Plant and Equipment' applies to tangible long-term assets, and AASB 136 'Impairment of Assets' applies to assets that may have suffered a significant reduction in value. Therefore, the correct answer is C.

The Accounting Standard That Applies to Financial Assets That Consist