Which of the Following Statements Is NOT True About Recognition

Multiple Choice

Which of the following statements is NOT true about recognition and subsequent accounting for financial liabilities?

A) They are initially recognized at their fair value.
B) After acquisition, they continue to be accounted for at fair value.
C) After acquisition, they are generally accounted for at amortized cost.
D) Short-term liabilities, such as accounts payable, are usually recorded at their maturity value.