Which of the following requirements is in line with the requirements set out in IFRS 11 Joint Arrangements for the treatment of unrealized gains and losses on nonmonetary assets contributed to a joint operation? The amounts are included in deferred gains or losses. The gain or loss must be eliminated against the underlying assets as a contra account. No gain or loss can be recognized until the asset is put into use and the asset is generating revenues. The gain or loss should be recorded immediately as other comprehensive income and transferred to operating income as the non-monetary asset is put into service