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What are essential characteristics of a financial liability

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Reference no: EM133056707

QUESTIONS -

Q1. What are the essential characteristics of a financial liability?

Q2. What are the classifications of liabilities in the statement of financial position? Explain each.

Q3. Explain the treatment of a long-term debt falling due within one year.

Q4. Explain the initial and subsequent measurement of note payable.

Q5. What is the treatment of a discount on note payable?

Q6. Explain the modification of terms under the debt structuring.

Reference no: EM133056707

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