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:

Marginalized Groups

Refers to communities or groups of people that are excluded or sidelined in society due to various socio-economic, political, or cultural factors.

Contextualized

Analyzed or understood within the framework of the surrounding or relevant circumstances, factors, or conditions.

Family Violence

Situations of abuse or violence occurring within a family context, encompassing a range of behaviors from physical to emotional abuse among family members.

Disadvantaged

Individuals or groups faced with social, economic, or educational barriers due to systemic inequalities.