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Problem 1: Which of the following is not a financial instrument?
a. accounts receivable
b. cash.
c. accrued utilities payable
d. treasury shares
Problem 2: According to PERS 9, financial assets are classified based on
a. the entity's business model.
b. the asset's cash flow characteristics.
C. management's intentions for holding each instrument.
d. a and b
Briefly explain why it is difficult for accountants to determine, Give an example of business or industry where customers usually.
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