The standard, and its associated IFRIC interpretations, address settling a financial liability with an _______________.

The standard, and its associated IFRIC interpretations, address ______________ or options for the receipt or delivery of the entity’s own equity instruments.

The standard, and its associated IFRIC interpretations, address __________________ – i.e. an entity’s own equity instruments held by the entity.

The standard, and its associated IFRIC interpretations, address the classification of _______________, dividends, losses and gains.

IAS 32 considers the question of whether a transaction is a financial liability or an ________________ at two levels

1. Which of the following is not an aspect of the definition of a liability under the revised Conceptual Framework? a. Probable outflow of economic benefits d. Present obligation as a result of past events b. Transfer of an economic resource c. Obligation