Which one of the following factors would prevent the application of hedge accounting in accordance with IRS $9$ Financial instruments?There is no economic relationship between the hedged item and the hedging instrument. The hedge is formally designated as a hedge at inception. The hedge ratio of the hedging relationship is only equal to that resulting from the quantity of the hedged item that the entity actually hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of hedged item. The hedge is of a net investment in a foreign operation.