Statements regarding accounting for derivatives

1) All of the following statements regarding accounting for derivatives are correct EXCEPT that

A. gains and losses resulting from hedge transactions are reported in different ways, depending upon the type of hedge
B. they should be recognized in the as assets and liabilities
C. they should be reported at fair value
D. gains and losses resulting from speculation should be deferred
2) of a corporation differs from because of
Permanent Differences | Temporary Differences
A. Yes | No
B. No | No
C. No | Yes
D. Yes | Yes