Which of the following statements about IFRS 7 Financial Instruments: Disclosures is true?

Which of the following statements about IFRS 7 Financial Instruments: Disclosures is true?
A . IFRS 7
only applies to entities that are designated as financial institutions by a regulatory authority.
B . IFRS 7 requires disclosures to be given for each separate class of financial instruments.
C . The main requirement of IFRS 7 is for qualitative disclosures relating to financial instruments and market risks.
D . IFRS 7 requires sensitivity analysis in relation to credit risk.

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Answer: B