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Describe the conditions necessary for xiao ltd

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Reference no: EM132631454

On the June 2019, Xiao Ltd purchased corporate bonds for $670,000 and also purchased 15% of the shares of Orbust Ltd, one of its customers, for $120,000

Required:

Problem A) Describe the two conditions necessary for Xiao Ltd to measure the corporate bonds at amortised cost

Problem B) Identify whether Orbust Ltd classifies the 15% of the shares of Orbust Ltd purchased by Xiao Ltd as a financial assent, financial liability or an equity instrument.

Reference no: EM132631454

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