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Which of the Following Is/are a Criteria for Asset Recognition

Question 9

Multiple Choice

Which of the following is/are a criteria for asset recognition under the FASB's and IASB's conceptual framework?


A) The firm owns or controls the right to use the asset.
B) The right to use the item arises as a result of a past transaction or exchange.
C) The future benefit has a relevant measurement attribute that a firm can quantify with sufficient reliability.
D) all of the above
E) none of the above

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