Which of the following is not correct regarding IFRS with regard to accounting for investments?

Minority passive equity investments are accounted for under the Fair Value through Net Income approach unless an option is elected to use Fair value through Other Comprehensive Income.

Minority active equity investments are accounted for using the equity method with no fair value option.

The use of Fair Value through Other Comprehensive Income is never available for passive minority investments.

A firm may elect to use Fair Value through Net Income for any security if doing so eliminates a measurement or recognition inconsistency.