Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'relationship status - active'?

A. an accounting framework of unstated origin (other than IFRS or US GAAP)
B. an accounting framework developed by the International Accounting Standards Board (IASB)
C. status indicating that as of the last report or update, the reporting legal entity reported that it is legally registered and/or operating, and that the relationship detailed in this relationship record is still valid
D. status indicating that it has been determined that the relationship ended, e.g. because entity that reported this relationship is no longer legally registered and/or operating; or the relationship is no longer valid for other reasons

Answer: status indicating that as of the last report or update, the reporting legal entity reported that it is legally registered and/or operating, and that the relationship detailed in this relationship record is still valid