Under IFRS,which of the Following Statements Is True

question 27

Multiple Choice

Under IFRS,which of the following statements is true?

• A)The hedge of a forecasted transaction is accounted for using a fair-value hedge.
• B)The hedge of a firm commitment is accounted for using a cash-flow hedge.
• C)The gain or loss on a hedging instrument under a cash-flow hedge is first reported as other comprehensive income and then reclassified to income
• When the hedged item affects income.
• D)The gain or loss on a hedging instrument under a fair-value hedge is first reported as other comprehensive income and then reclassified to income
• When the hedged item affects income.

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Definitions:

Power

The capacity or ability to direct or influence the behavior of others or the course of events.

Fame

The state or condition of being widely recognized and esteemed by a large audience, often as a result of notable achievements or celebrity status.

Money

A medium of exchange used to facilitate transactions for goods and services, typically issued by governments and recognized as legal tender.

Bank Robberies

Criminal acts involving the unauthorized taking of money or valuables from a bank while threatening violence or using force.