State whether each of the following statements is true or false.
(a) In any hedge relationship there needs to be a hedged item and a hedging instrument.
(b) A hedging instrument must always be a derivative.
(c) A cash flow hedge locks in a reporting entity's future cash flows.
(d) A forecast transaction is an uncommitted but anticipated future transaction.
(e) In order to qualify for hedge accounting there must be formal designation and documentation of the hedging relationship and the entity's risk management objective and strategy for undertaking the hedge.
(f) The documentation and designation in (e) may occur at any time.