The Primary Distinction Between FAS 133 and IAS 39 Is

question 37

Multiple Choice

The primary distinction between FAS 133 and IAS 39 is

• A)IAS 39 does not permit hedge accounting
• B)IAS 39 was adopted earlier than FAS 133
• C)IAS 39 applies only to publicly traded corporations
• D)IAS 39 applies to all financial assets and liabilities,not just derivatives
• E)none of the above

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Definitions:

Organic Product

A natural substance or compound obtained through biochemical processes from organisms or their parts.

Reaction

A process in which substances interact to form new substances with different properties, involving a reorganization of atoms or molecules.

Reaction Mechanism

A detailed step-by-step description of how reactants are converted into products, including the breaking and forming of bonds.

Organic Product

A compound that results from the chemical reactions between molecules containing carbon.