(Solution) - Davison Corporation has puttable common shares outstanding These shares give -(2025 Original AI-Free Solution)

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Davison Corporation has puttable common shares outstanding. These shares give the holder the option to require Davison to repurchase the shares for cash. In the event of liquidation, the holders of these shares are also entitled to a pro rata share of Davison's net assets (where net assets are those assets that remain after all other claims on the company's assets are satisfied). The shares do not have a preferred rank over other shares for dividend distributions, and there are no other common shares.
(a) How should the shares be classified on the statement of financial position if Davison applies IFRS?
(b) Would the answer to part (a) be different if Davison applies ASPE?