Question: 19. Statement 1: An entity shall recognize a loss allowance for expected credit losses on debt investment measured at amortized cost and debt investment measured

19. Statement 1: An entity shall recognize a loss allowance for expected credit losses on debt investment measured at amortized cost and debt investment measured at fair value through other comprehensive income. Statement 2 : It is not necessary to assess for impairment financial assets measured at fair value through profit or loss and equity investments measured at fair value through other comprehensive income for impairment.

a) Only statement 1 is correct

b) Only statement 2 is correct

c) Both statements are correct

d) Both statements are incorrect

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