3. If companies choose the fair value option as the basis of measurement for financial instruments, which of the following is correct? a. b. C. d. A company may change its decision as regards the fair value option for a financial instrument, but only after the fair value option has been in effect for more than one year. The unrealized holding gain/loss resulting from the fair value of the instrument's valuation is recorded as part of Other Comprehensive Income and is not shown on the company's income statement. The company may defer the decision to treat a financial instrument under the fair value option for no more than one month from the date of acquisition of the instrument. The unrealized holding gain/loss resulting from the fair value of the instrument's valuation is recorded as part of net income in the year of instrument valuation.