Under IFRS,firms May Elect the Fair Value Option Only in Cases

question 85

True/False

Under IFRS,firms may elect the fair value option only in cases where it eliminates an accounting mismatch or when a group of assets is managed and evaluated using fair values.

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Definitions:

Structuralists

Scholars who analyze the underlying structures in cultural products, languages, and societies to understand their meaning and function.

Structuralist

An approach in psychology that aimed to understand the structure of the mind by analyzing its components.

Organism Sleeps

A state of rest for a living organism where consciousness is suspended and metabolic activities are reduced.

Cognitive Perspective

A psychological approach that emphasizes mental processes such as perception, memory, and problem-solving.