Accounting · Financial Statements
Match each financial instrument to its correct classification in the Statement of Financial Position according to the principles of 'Substance over Form': (1) Ordinary shares of $0.25 each (2) 5% Loan notes repayable in 2030 (3) 8% Redeemable preference shares (4) Irredeemable preference shares
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- 11 - Equity, 2 - Liability, 3 - Equity, 4 - Liability
- 21 - Liability, 2 - Liability, 3 - Liability, 4 - Equity
- 31 - Equity, 2 - Liability, 3 - Liability, 4 - Liability
- 41 - Equity, 2 - Liability, 3 - Liability, 4 - Equity✓
Correct answer
1 - Equity, 2 - Liability, 3 - Liability, 4 - Equity
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