Which statement is correct about offsetting?
A)Offsetting is required under IFRS when the entity is willing and legally able to offset.
B)Offsetting is required under IFRS when the company intends to settle on a net basis.
C)Offsetting is generally permitted under IFRS,unless it is specifically prohibited.
D)Offsetting is required under IFRS when there is a legally enforceable right of offset.

Question

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The Answer of Which statement is correct about offsetting?
A)Offsetting is required under IFRS when the entity is willing and legally able to offset.
B)Offsetting is required under IFRS when the company intends to settle on a net basis.
C)Offsetting is generally permitted under IFRS,unless it is specifically prohibited.
D)Offsetting is required under IFRS when there is a legally enforceable right of offset.

Which Statement Is Correct About Offsetting