Which Statement Is Correct About Offsetting

question 4

Multiple Choice

Which statement is correct about offsetting?

• A)Offsetting is required under IFRS when the entity is willing and legally able to offset.
• B)Offsetting is required under IFRS when the company intends to settle on a net basis.
• C)Offsetting is generally permitted under IFRS,unless it is specifically prohibited.
• D)Offsetting is required under IFRS when there is a legally enforceable right of offset.

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Definitions:

Plants

Multicellular, photosynthetic eukaryotes that increasingly became adapted to live on land.

Sunken Stomata

Stomatal openings located below the surface level of plant epidermis, helping reduce water loss by decreasing transpiration.

Desert

A barren or desolate area, especially one with little water and sparse vegetation, typically receiving less than 25 cm of precipitation a year.

Small Leaves

Leaf adaptation that reduces surface area to minimize water loss, typically found in plants living in dry or windy environments.