A financial instrument is a contract which gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity

Name: A financial instrument is a contract which gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity
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Question

Quizplus · Accepted Answer

This is the definition of a financial instrument as per the International Financial Reporting Standards (IFRS).

A Financial Instrument Is a Contract Which Gives Rise to a Financial