which of the following statements concerning disclosure requirements for derivatives used as cash flow hedges is/are correct? i. the net gain or loss recognized in earnings during the period must be disclosed. ii. the amount of gain or loss deferred in other comprehensive income must be disclosed. iii. a listing of each of the derivatives used for cash flow hedges and the amount of each must be disclosed. i only. i and ii only. i and iii only. i, ii, and iii.

The net gain or loss recognized in earnings during the period must be disclosed, as must the amount of gain or loss deferred in other comprehensive income. Additionally, a listing of each of the derivatives used for cash flow hedges and the amount of each must be disclosed.

A cash flow hedge entails using a hedging tool (a derivative) to lock in the amount of a future cash inflow or outflow that would otherwise be affected by market fluctuations.

For instance, the business could agree upon a forward contract with a different party to buy the steel. The forward contract then serves as a hedging instrument because your net payment will remain the same even if the price of steel increases.

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