Examlex
Which of the following is incorrect?
Equity Instrument
A financial instrument that signifies ownership in a company and represents a claim on part of the company's assets and earnings.
Contractual Right
A legally enforceable claim that arises from a contractual agreement between parties.
Financial Instrument
A tool representing a monetary contract between parties that can be traded, such as stocks, bonds, or derivatives.
Substance Over Form
The concept that transactions and their effects should be recorded and reported in a way that reflects their economic reality rather than merely their legal form.
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