Start learning →

Gain on redeeming a liability below carrying amount goes?

ATo profit or loss
BDirectly to equity
CTo a revaluation reserve
DTo deferred income
Answer & Solution
Correct answer: A. To profit or loss
Gains and losses on redeeming or refinancing liabilities go through profit or loss, unlike equity redemptions.
Practise this question with Quill — CA Final →

Keep practising Ind AS 32 Financial Instruments: Presentation

Browse all Ind AS 32 Financial Instruments: Presentation questions for CA Final, or explore more Financialreporting topics.

Start a Ind AS 32 Financial Instruments: Presentation lesson →
Related questions
Pro rata rights at a fixed price in any currency are?Which are 'entities' under Ind AS 32?Must a financial instrument contract be written?On reclassifying equity to liability, difference goes to?Puttable equity must sit in which class?Puttable equity must entitle holders to?A master netting arrangement provides?Is a sinking fund offset against the debentures?