An Asset Should Be Recognised in the Financial Statements When

Multiple Choice

An asset should be recognised in the financial statements when:
(i) an exchange has occurred
(ii) it possesses a cost or other value that can be measured reliably
(iii) it is probable that the future economic benefits embodied in the asset will eventuate.

A) (i) and (ii) only
B) (i) and (iii) only
C) (ii) and (iii) only
D) (i) ,(ii) and (iii) .