Response addresses liability-equity distinctions in financial accounting, suggesting implications for reporting standards.
Responds to issues in the Financial Accounting Standards Board discussion memorandum `Distinguishing Between Liability and Equity Instruments and Accounting for Instruments with Characteristics of Both.' Definitional structure for debt and equity; Financial statements between liabilities and equity; Inseparability argument; Problems of allocation; Repayment.
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Weygandt et al. (1993) studied this question.
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