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Sir, could you explain with example below defintion financial asset and for financial liability
1. a contract that will or may be settled in the entity’s own equity
instruments, and is a nonderivative
for which the entity is or may be
obliged to receive a variable number of the entity’s own equity
instruments2 .a contract that will or may be settled in the entity’s own equity
instruments, and is a derivative that will or may be settled other than by
the exchange of a fixed amount of cash or another financial asset for a
fixed number of the entity’s own equity instruments1a contract that will or may be settled in the entity’s own equity
instruments, and is a nonderivative
for which the entity is or may be
obliged to deliver a variable number of the entity’s own equity
instruments
2• a contract that will or may be settled in the entity’s own equity
instruments, and is a derivative that will or may be settled other than by
exchange of a fixed amount of cash or another financial asset for a fixed
number of the entity’s own equity instruments.
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