Duration gap analysis:.
a) is a refinement of basic gap analysis that accounts for interest-rate changes over a multi year period.
b) is a refinement of basic gap analysis that accounts for how long a gap will last.
c) is a complement to basic gap analysis that accounts for the effect of interest rate changes on market value.
d) is a complement to basic gap analysis that accounts for the influence of partially rate-sensitive assets.

is a complement to basic gap analysis that accounts for the effect of interest rate changes on market value. (C)

Explanation:

The duration gap is an accounting and financial term that is typically used by pension funds, banks, or other financial institutions in order to measure their risk as a result of changes in the interest rate.

When the duration of liabilities is more than the duration of assets, the duration gap is negative and when the duration of liabilities is less than the duration of assets, the duration gap is positive.