Which of the Following Statements Is NOT True About Recognition

question 57

Multiple Choice

Which of the following statements is NOT true about recognition and subsequent accounting for financial liabilities?

• A) They are initially recognized at their fair value.
• B) After acquisition, they continue to be accounted for at fair value.
• C) After acquisition, they are generally accounted for at amortized cost.
• D) Short-term liabilities, such as accounts payable, are usually recorded at their maturity value.

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