FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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36

In accordance with IAS 32 Financial Instruments: Presentation, which of the following describes an equity instrument?

• A contractual obligation to deliver cash or another financial asset to another entity

• A contract which is evidence of a residual interest in the assets of an entity after deducting all of its liabilities

• A contractual right to exchange financial instruments with another entity under potentially favourable conditions

• A contract which gives rise to both a financial asset of one entity and a financial liability of another

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