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Which of the following statements is INCORRECT? Select one: A. To apply hedge flow accounting, a hedge must be effective both prospectively and retrospectively B.

Which of the following statements is INCORRECT?

Select one:

A. To apply hedge flow accounting, a hedge must be effective both prospectively and retrospectively

B. Fair value hedges manage different risks to cash flow hedges

C. Hedging allows companies to manage risk relating to foreign currency transactions

D. Accountants need to separate the effective and ineffective portions of all hedges

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