Gold Limiteds draft statement of financial position as of 31 March 2018 shows financial assets at fair
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Question:
Gold Limited’s draft statement of financial position as of 31 March 2018 shows financial assets at fair value through profit or loss with a carrying amount of Rs. 12.5 million as at 1 April 2017.
These financial assets are held in a fund whose value changes directly in proportion to a specified market index. At 1 April 2017 the relevant index was 1,200 and on 31 March 2018, it was 1,296. Required
What amount of gain or loss should be recognized on 31 March 2018 in respect of these assets?
Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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