?! "Question'A financial liability designated at FVTPL has itscredit risk changes recorded inI) Other comprehensive incomeII) Profit or lossIII) Directly in equityIV) Not recorded at all

The correct answer is I) Other comprehensive income (OCI). Here's the step-by-step explanation:Step…

Answered: "Question' A financial liability…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 13GI

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"Question' A financial liability designated at FVTPL has its credit risk changes recorded in I) Other comprehensive income II) Profit or loss III) Directly in equity IV) Not recorded at all