The following is a list of independent scenarios. Assume that each corporation adopts ASPE. a. A company holds cryptocurrencies, which are held for sale in the ordinary course of operations. b. A corporation has an outstanding note receivable of $200,000 for which it collects 5% interest on an annual basis. c. Renald Corp. reports $50,000 of net accounts receivable. d. An enterprise holds cash in a foreign country, subject to restrictions and cannot be used for general purposes. e. A company invests $20,000 in the common shares of a listed company on the TSX. Required: Discuss whether amortized cost or FVTPL is most appropriate for each financial asset from each independent scenario. If an item is not a financial asset, explain. The following is a list of independent scenarios. Assume that each corporation adopts IFRS. a. Raja Inc. purchases eight percent of the outstanding shares of Yajoo Inc. b. Ding Inc. purchases preferred shares of Ming Inc., knowing it will earn a set dividend each quarter. Ding Inc. has no intention to sell the preferred shares of Ming Inc. in the near future. c. The controller at Company ABC recommended the purchase of a five-year bond due to its low trading value. The bond will be sold when the value increases, likely within one to three months. d. Neon Corp. holds $10,000 of cryptocurrencies, which it purchased two months ago. e. Remi Inc.'s total cash balance in Canadian dollars is $198,000. A portion of this balance was converted from U.S. dollars and a gain was recorded. Required: 1. Discuss whether amortized cost, FVOCI, or FVTPL is most appropriate for each financial asset from each independent scenario. If an item is not a financial asset, explain. 2. Which classification (amortized cost, FVTPL or FVOCI) results in more volatility in income? Which results in less volatility? 3. How would item (c) be recorded if Company ABC adopted ASPE rather than IFRS? The following is a list of independent scenarios. Assume that each corporation adopts ASPE. a. A company holds cryptocurrencies, which are held for sale in the ordinary course of operations. b. A corporation has an outstanding note receivable of $200,000 for which it collects 5% interest on an annual basis. c. Renald Corp. reports $50,000 of net accounts receivable. d. An enterprise holds cash in a foreign country, subject to restrictions and cannot be used for general purposes. e. A company invests $20,000 in the common shares of a listed company on the TSX. Required: Discuss whether amortized cost or FVTPL is most appropriate for each financial asset from each independent scenario. If an item is not a financial asset, explain. The following is a list of independent scenarios. Assume that each corporation adopts IFRS. a. Raja Inc. purchases eight percent of the outstanding shares of Yajoo Inc. b. Ding Inc. purchases preferred shares of Ming Inc., knowing it will earn a set dividend each quarter. Ding Inc. has no intention to sell the preferred shares of Ming Inc. in the near future. c. The controller at Company ABC recommended the purchase of a five-year bond due to its low trading value. The bond will be sold when the value increases, likely within one to three months. d. Neon Corp. holds $10,000 of cryptocurrencies, which it purchased two months ago. e. Remi Inc.'s total cash balance in Canadian dollars is $198,000. A portion of this balance was converted from U.S. dollars and a gain was recorded. Required: 1. Discuss whether amortized cost, FVOCI, or FVTPL is most appropriate for each financial asset from each independent scenario. If an item is not a financial asset, explain. 2. Which classification (amortized cost, FVTPL or FVOCI) results in more volatility in income? Which results in less volatility? 3. How would item (c) be recorded if Company ABC adopted ASPE rather than IFRS