The Fair Value Option Can Only Be Applied to Fair

question 4

True/False

The fair value option can only be applied to fair value through profit or loss securities.

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Definitions:

Trout

A common name for several species of freshwater fish belonging to the genera Oncorhynchus, Salmo, and others, often prized for sports fishing and as food.

Business Trip

A journey undertaken for work-related purposes, often involving travel outside the individual's regular place of employment.

Bailment

The act of temporarily placing control over or possession of personal property in the hands of another, for a specified purpose.

Tangible

Anything that can be physically touched or is material in nature.