What is the principle for recognition of a financial asset or a financial liability in IAS 39?
(a) A financial asset is recognized when, and only when, it is probable that future economic benefits will flow to the entity and the cost or value of the instrument can be measured reliably.
(b) A financial asset is recognized when, and only when, the entity obtains control of the instrument and has the ability to dispose of the financial asset independent of the actions of others.
(c) A financial asset is recognized when, and only when, the entity obtains the risks and rewards of ownership of the financial asset and has the ability to dispose the financial asset.
(d) A financial asset is recognized when, and only when, the entity becomes a party to the contractual provisions of the instrument.