If a Company Chooses the Fair Value Option for an Asset

question 85

True/False

If a company chooses the fair value option for an asset or liability, all changes in the fair value of the asset (or liability), including unrealized gain and losses, will be included in net income.

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Definitions:

Nonmaleficence

A fundamental principle in medical ethics that obligates healthcare providers to avoid causing harm to patients.

Autonomy

The capacity to make an informed, uncoerced decision, often used in the context of moral, ethical, or governance discussions.

Do No Harm

A fundamental principle in healthcare and bioethics that emphasizes the importance of avoiding causing unnecessary injury or suffering to patients.

Self-Determination

The process by which a person controls their own life, often associated with the principle that patients have the right to make their own healthcare decisions.