Under IAS 39, Financial Instruments: Recognition and Measurement, which of the following terms describes the removal of a financial asset or liability from the balance sheet when certain appropriate criteria have been met?

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Derecognition is the term used in IAS 39 to describe the removal of a financial asset or liability from the balance sheet when certain appropriate criteria have been met. This typically occurs when an entity no longer has any significant continuing involvement with the financial instrument.

Under IAS 39, Financial Instruments: Recognition and Measurement, Which of the Following