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Which of the following regarding the conversion of preference share into ordinary share is true? o Losses resulting from a conversion are recognized and gains

Which of the following regarding the conversion of

preference share into ordinary share is true?

o Losses resulting from a conversion are recognized

and gains resulting from a conversion are not

recognized

o Gains resulting from a conversion are recognized

and losses resulting from a conversion are not

recognized

o No gain or loss resulting from a conversion are

recognized

o Both gains and losses from conversion are

recognized

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