Which Statement Is Not True for a Partial Derecognition-Say 30%-Of

question 26

Multiple Choice

Which statement is not true for a partial derecognition-say 30%-of a financial liability?

• A)Record derecognition of 30% of the book value of the financial liability.
• B)Record derecognition and the acquisition of 70% as a new liability.
• C)Record derecognition of 30% of the unamortized premium or discount.
• D)Record the gain or loss on derecognition of 30% of the financial liability.

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Definitions:

No Demand

A market situation where there is no consumer desire or interest in purchasing a specific product or service.

Inconsistency

The state of being inconsistent; lack of uniformity or steadiness in actions, values, or outcomes.

Training

The process of teaching or developing in oneself or others, any skills and knowledge that relate to specific useful competencies.

Wedding Preparation Service

A business that offers planning and coordinating services for weddings, including venue selection, catering, and decorations.