In differentiating between a financial liability and equity,the report preparer must consider:
A. The existence of a contractual obligation to deliver cash or another financial asset.
B. The consequences of recording a financial liability and the associated impacts on profit.
C. The substance of the agreement over its form.
D. The existence of a contractual obligation to deliver cash or another financial asset and the substance of the agreement over its form.
E. None of the given answers.

Question

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The Answer of In differentiating between a financial liability and equity,the report preparer must consider:
A. The existence of a contractual obligation to deliver cash or another financial asset.
B. The consequences of recording a financial liability and the associated impacts on profit.
C. The substance of the agreement over its form.
D. The existence of a contractual obligation to deliver cash or another financial asset and the substance of the agreement over its form.
E. None of the given answers.

In Differentiating Between a Financial Liability and Equity,the Report Preparer