Under IFRS, the Fair Value Option

question 13

Multiple Choice

Under IFRS, the fair value option

• A)Must be applied to all instruments the company holds.
• B)May be selected as a valuation method by the company at any time during the first
• 2 years of ownership.
• C)Reports all gains and losses in income.
• D)All of the choices are correct.

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Definitions:

Stakeholders

Individuals or groups that have an interest or concern in the operations and decisions of a business or project.

Ethical Issue

A situation or problem that requires individuals or organizations to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Marketing Mix

A set of actionable marketing tools—product, price, place, and promotion—that a business uses to pursue its marketing objectives in the target market.

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.