International accounting standards differ from U.S.Generally Accepted Accounting Principles in that International standards
A)require that firm sale or purchase commitments are accounted for as fair value hedges.
B)require that firm sale or purchase commitments are accounted for as cash flow hedges.
C)state that firm sale or purchase commitments may not be treated as a hedged transaction.
D)permit firm sale or purchase commitments to be accounted for as either fair value hedges or cash flow hedges.

Question

Quizplus · Accepted Answer

International accounting standards permit firm sale or purchase commitments to be accounted for as either fair value hedges or cash flow hedges, while U.S. Generally Accepted Accounting Principles require that they be accounted for as fair value hedges.

International Accounting Standards Differ from U