IAS 32 defines a financial instrument as:
A. the currency of a foreign country in which the enterprise does business.
B. a certified check.
C. any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
D. a recognized stock exchange.
Answer:C
IAS 32 defines a financial instrument as:
A. the currency of a foreign country in which the enterprise does business. B. a certified check. C. any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. D. a recognized stock exchange.