When Applying the If-Converted Assumption for Potentially Dilutive Securities, Conversions

When applying the if-converted assumption for potentially dilutive securities, conversions are assumed to occur at the ________.

A) end of the prior year for hypothetical conversions
B) beginning of the year for hypothetical conversions
C) middle of the current year for actual conversions
D) beginning of the current year or on the issue date of the dilutive security if issued during the current year