Under Topic 815, which of the following is true related to the proper accounting for the initial and subsequent measurements of derivatives? a. All derivatives are measured at fair value, unless hedge accounting is elected. O b. All derivatives are measured at fair value, while accounting for any change in fair value will depend on whether hedge accounting is elected. O c. All derivatives are required to apply hedge accounting. O d. Once a derivative is designated for hedge accounting, it is an irrevocable election.

Under Topie 8t5, which of the following is true related to the peoper occounting for the initial and subsequont measurements of derivatives? a. All derivatives are measured at fair volue, unless hedge accounting is elected. b. All derivatives are meosured et fair value, while accounting for any change in fair value will depend on whether hedge accounting is elected. c. All derivatives are required to apply hedge occounting. d. Once a derivative is designated for hodge accounting, it is an irrevocable election