Which of the following statements is correct ? a. IFRS permits the fair value option for the equity method of accounting. b. GAAP permits recovery of impairment losses. c. Under IFRS, non-trading...

Which of the following statements is
correct?

a. IFRS permits the fair value option for the equity method of accounting.

b. GAAP permits recovery of impairment losses.

c. Under IFRS, non-trading equity investments are accounted for at amortized cost.

d. IFRS and GAAP both have a trading investment classification.