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Generally Accepted Accounting Principles (GAAP) MCQs

What did APB 14-1 issued in 2008 do to the accounting rules related to convertible debt?

Restricted companies' abilities to issue convertible debt

Made rules regarding the accounting of convertible debt less restrictive

Laid down the requirement that companies account for the debt and equity components of convertible debt separately

Forced companies to convert all debt

Answer

Correct Answer: Laid down the requirement that companies account for the debt and equity components of convertible debt separately

Explanation:

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