Which of the Following Statements Is NOT True About Recognition

question 246

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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Definitions:

Autonomic Response

Involuntary physical responses controlled by the autonomic nervous system, such as heart rate, digestion, and respiratory rate.

Human Stressors

External or internal stimuli that cause stress in individuals.

Sympathetic Nervous System

Part of the autonomic nervous system that activates the body's rapid involuntary response to dangerous or stressful situations.

Hypothalamus

A region of the brain responsible for producing hormones that regulate bodily functions such as temperature, thirst, hunger, sleep, mood, and sexual activity.