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Which of the following best describes the impact of derivative instruments on financial statements and risk management strategies under Accounting Standards Codification ( ASC 8

"Which of the following best describes the impact of derivative instruments on financial statements and risk management strategies under Accounting Standards Codification (ASC 815/IFRS 9)?
A) Derivatives have no impact on financial statements but aid in risk management strategies.
B) Derivatives are reported at fair value on financial statements and can mitigate or amplify financial risks.
C) Derivatives are solely disclosed in footnotes of financial statements and have minimal impact on risk management.
D) Derivatives are accounted for using historical cost method, influencing risk management decisions."

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