IAS 32 examines whether an individual instrument (or class of instruments) issued by the ___________ is a financial liability or equity.

Understanding IAS 32

1. Definition of IAS 32:
   IAS 32 refers to the International Accounting Standard 32, which addresses the classification of financial instruments as either financial liabilities or equity instruments.

2. Financial Instruments:
   The standard must determine whether an instrument is classified as a liability or equity based on the characteristics of the instrument itself.

3. Issuer of the Instruments:
   The question specifically asks about the individual instrument or class of instruments issued by the entity. In this context, "entity" refers to a company or organization that issues financial instruments.

Final Answer

IAS 32 examines whether an individual instrument (or class of instruments) issued by the entity is a financial liability or equity.