Changes in the Fair Value of Derivative Instruments That Qualify

question 25

Multiple Choice

Changes in the fair value of derivative instruments that qualify as hedges should be reported as

• A) Gains or losses in the government-wide statement of activities.
• B) Deferred inflows or outflows of resources in fund and government-wide operating statements.
• C) Losses but not gains in general fund statements of revenues, expenditures, and changes in fund balance.
• D) Disclosures only.

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Definitions:

Work Stress

The negative response individuals exhibit towards too much stress or various demands imposed on them in their workplace.

Agreeable

A personality trait characterized by kindness, cooperativeness, warmth, and consideration of others.

Extraverted

A personality trait characterized by outgoingness, high energy, and a preference for social interaction and external stimulation.

Mum Effect

The reluctance to communicate unfavorable information or feedback due to the fear of the negative consequences that may result, leading to a lack of communication or withholding of important information.