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Test your level in 15 questions

Questions from the course on IFRS, financial analysis and modeling. Your score and an explanation of every answer appear right after the last question.

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01 A loan of 1,000 carries a covenant tested at 31 December. The company breached it on that date. On 15 January, before the statements were issued, the bank agreed in writing to waive the breach and not demand repayment for two years. How is the loan classified at 31 December?Non-current, because the waiver came before the statements were issuedNon-current with disclosure onlyCurrent, because the right to defer settlement did not exist at the reporting dateSplit between current and non-current by days