Which Statement Is Correct About Offsetting

question 13

Multiple Choice

Which statement is correct about offsetting?

• A)Offsetting generally provides decision-useful information for financial statement users.
• B)Offsetting aids in financial statement user's ability to correctly interpret financial results.
• C)Offsetting is generally prohibited under IFRS,unless it is specifically required.
• D)Offsetting is required under IFRS when there is a legally enforceable right of offset.

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Definitions:

Behaviour Therapists

Mental health professionals who use principles of behaviorism to treat psychological disorders and improve patients' behavioral patterns.

Observational Learning

The process of acquiring knowledge, skills, or behaviors by watching and imitating others.

Biomedical Therapy

Treatments for mental disorders that involve physiological interventions, such as medication, surgical methods, or other medical procedures, to alter an individual's brain chemistry or functioning.

Electroconvulsive Therapy

A medical treatment involving electrically induced seizures for therapeutic effect, primarily used in severe cases of depression.