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
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
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter12: Liabilities: Off-balance-sheet Financing, Retirement Benefits, And Income Taxes
Section: Chapter Questions
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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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