IAS 32

Contract to deliver variable number of shares = sounds pretty close to a present obligation to transfer economic benefits as a result of a past event to me. In any case, if this is a discussion question, they just want to see that you know the definition. Unissued shares are like unpurchased sausages. They are a 'nothing' As I've said before, to pass this exam, you have to give clear simple explanations to scenarios. Be led by by my debriefs of 2019 and 2020 exams. Finally, not that you asked this, remember that the only thing you must not do is run out of time: 4 mediocre answers = pass 2 good answers and 2 unanswered questions = not pass