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Question
Which of the following statements is not accurate with respect to the reporting requirements regarding the fair value option?
A. Firms may elect the fair value option for a single eligible instrument without electing it for other identical instruments.
B. Once the choice is made to adopt the fair value option, the decision is irrevocable.
C. Financial statement disclosures must include management's rationale for electing the fair value option.
D. The fair value option is not available for security investments that are accounted for using the equity method.
Answer
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