Table:
| USDm | 2019 | 2018 |
| --- | --- | --- |
| Partners and commercial managements | 0.5 | 1.2 |
| Accrued operating expenses | 14.1 | 9.1 |
| Accrued interest | 4.0 | 4.6 |
| Wages and social expenses | 14.3 | 16.1 |
| Derivative financial instruments | 12.3 | 3.4 |
| Payables to joint ventures | 0.1 | 0.1 |
| Other | 2.0 | 2.0 |
| Balance as of 31 December | 47.3 | 36.5 |
Paragraphs:
NOTE 14 – OTHER LIABILITIES
The carrying amount is a reasonable approximation of fair value due to the short-term nature of the receivables. Please refer to note 21 for further information on fair value hierarchies.
Question:
Why is the carrying amount a reasonable approximation of fair value?
Answer: due to the short-term nature of the receivables.