Which of the Following Statements Is Correct About Accounting for Financial

question 22

Multiple Choice

Which of the following statements is correct about accounting for financial liabilities?

• A)Financial liabilities can only be accounted for using amortized cost.
• B)Financial liabilities can only be accounted for using fair value though profit and loss.
• C)Financial liabilities can be accounted for using historical cost.
• D)Financial liabilities can be accounted for using amortized cost or fair value.

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Definitions:

Unconscious Conflict

Psychological struggles within the mind that occur without conscious awareness, often influencing behavior and emotions.

Anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome, often reflecting a response to stress or threat.

Repression

A defense mechanism in psychoanalytic theory where distressing thoughts, desires, or experiences are unconsciously excluded from conscious awareness.

Defense Mechanism

Psychological strategies used by individuals to cope with reality and maintain self-image by unconsciously denying or distorting reality.