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Fancy Imports applies International Financial Reporting Standards. The company issued shares of the companys Class...

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Accounting

Fancy Imports applies International Financial Reporting Standards. The company issued shares of the companys Class B stock. Fancy Imports should report the stock in the companys statement of financial position:
Multiple Choice
among liabilities if the shares are mandatorily redeemable or redeemable at the option of the shareholder.
among liabilities unless the shares are mandatorily redeemable.
as equity unless the shares are mandatorily redeemable.
as equity unless the shares are redeemable at the option of the issuer.

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