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An analyst who compares the debt ratios of firms under U.S. GAAP and IFRS must con- sider key differences in the two sets of standards
An analyst who compares the debt ratios of firms under U.S. GAAP and IFRS must con- sider key differences in the two sets of standards related to convertible debt and trou- bled debt restructurings. In general, which system would most likely yield lower debt and higher equity? Explain
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