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Generally Accepted Accounting Principles (GAAP) MCQs

What is a contingent convertible bond issuance?

A convertible debt instrument which can only be converted if the management says the holders can

A convertible debt instrument which can only be converted if the share price reaches a specific level

A debt conversion which is contingent on the level of earnings

A debt conversion which is contingent on a board directive

Answer

Correct Answer: A convertible debt instrument which can only be converted if the share price reaches a specific level

Explanation:

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