Question 4 Will a liability be recognised in relation to a cash-settled share-based payment transaction and, if so, does the liability need to be remeasured at the end of each reporting period? Response: Click or tap here to enter text. Question 5 How would a donation from a benefactor be treated? Explain your answer considering if this can be treated as income to the organisation. Response: Click or tap here to enter text. Question 6

3 A graduate student starts working in a large accounting firm and is not sure how a currency swap operates. As a senior accountant, explain this in simple words to the graduate student. Response: