If a derivative is not designated as a hedge: Multiple Choice the change in market value must be recognized in net income when it changes. the change in market value is not recognized in net income. the change in fair value is not recognized in net income. the change in fair value must be recognized in net income when it changes. Under IAS 32, which of the following is not a financial asset? Multiple Choice Investment in equity instruments accounted for under the equity method Cash A 10% investment in a subsidiary Loans to other entities