Que 41 (Bpp) Avco

1. Means 'they might have to pay cash or issue shares but it's fairly unlikely' - as the number of shares is variable, it's of the nature of a liability. 2. If I sell some some sausages to the bank for 10 and later repurchase them for 12, it looks like a sale and repurchase (legal form). However, in reality it's more like a loan secured on the sausages (commercial substance)