Assuming a company applies hedge accounting and reports under IFRS, which of the following statements about hedging a foreign currency risk on a contracted future credit sale is true?
- The hedge must be accounted for using a cash flow hedge.
- The company can account for the hedge using elther a ca sh flow hedge or a fair value hedge.
- The hedge is not eligible for hedge accounting until the sale actually occurs.
- The hedge must be accounted for using a fair value hedge.