When Current Debt Is Refinanced by the Issue Date of Financial

question 57

Multiple Choice

When current debt is refinanced by the issue date of financial statements, it may generally be presented as non-current

• A) if the company follows IFRS.
• B) under either ASPE or IFRS.
• C) if the company follows ASPE.
• D) only if the company is a subsidiary.

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Definitions:

Legal Fees

Costs incurred for legal services provided by attorneys or law firms to individuals or organizations.

Par Value

A nominal or face value assigned to a share of stock or bond, indicating its worth at the time of issue.

Common Stock

Common stock is a form of corporate equity ownership, a type of security representing an ownership interest in a corporation.

Par

The face value of a bond or the stock value stated on the certificate, unrelated to its market value.