When an entity re-acquires its own shares:
A) those shares shall be removed from equity
B) no gain or loss shall be recognised in the income statement
C) they must not be recognised as a financial asset
D) all of the above

Question

Quizplus · Accepted Answer

When an entity re-acquires its own shares, it shall be removed from equity, no gain or loss shall be recognised in the income statement, and they must not be recognised as a financial asset. Therefore, all of the above statements are correct.

When an Entity Re-Acquires Its Own Shares