Equity is the residual interest in the entity’s assets after deducting its liabilitiesGroup of answer choicesTrueFalse

A cash instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.

It is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.

The payment of a liability decreases both assets and liabilitiesGroup of answer choicesTrueFalse

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.