Fair Value Option for Reporting Some Liabilities Is Normally Chosen

question 118

Multiple Choice

Fair value option for reporting some liabilities is normally chosen ________.

• A)at the time of borrowing and is irrevocable
• B)on the first balance sheet and is revocable
• C)at the end of each year and is revocable
• D)at the time of borrowing and is revocable

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Definitions:

Samples

A portion or subset of a larger group or population used in statistical analysis to represent the whole.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how spread out the values are from the mean.

Proportion

A part, share, or number considered in comparative relation to a whole, often expressed as a fraction or percentage.

Samples

Selections from a larger population used to estimate characteristics of the whole population.