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23.1  What is the principal accounting for a compound financial instrument? a. The issuer shall classify a compound instrument as a liability in its entirety. b. The issuer shall classify a compound instrument as a liability in its entirety until converted into equity. c. The issuer shall classify a compound instrument as either liability or equity d. The issuer shall classify the liability and equity components of a compound instrument separately as a financial liability or equity instrument

23.1  What is the principal accounting for a compound financial instrument? a. The issuer shall classify a compound instrument as a liability in its entirety. b. The issuer shall classify a compound instrument as a liability in its entirety until converted into equity. c. The issuer shall classify a compound instrument as either liability or equity d. The issuer shall classify the liability and equity components of a compound instrument separately as a financial liability or equity instrument

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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23.1  What is the principal accounting for a compound financial instrument?

a. The issuer shall classify a compound instrument as a liability in its entirety.

b. The issuer shall classify a compound instrument as a liability in its entirety until converted into equity.

c. The issuer shall classify a compound instrument as either liability or equity

d. The issuer shall classify the liability and equity components of a compound instrument separately as a financial liability or equity instrument

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