Assertion: debt instrument's rate | /r/HasProperty | charged on receivable/payable
Facets:
Source sentences:
text: If a financing arrangement takes place which is at anything other than non-market rates then section 11.13 requires the entity to measure the financial asset/liability at the present value of the future receipts/payments discounted at a market rate of interest for a similar debt i.e. the rate of interest that would be charged on such a receivable/payable if the entity were to go to an outside party e.g. a bank etc. to get the credit.