In Accounting, Recognition Refers To

Multiple Choice

In accounting, recognition refers to:
I. the inclusion of dollar amounts into an entity's accounting system.
II. the process of incorporating the important elements into the financial statements.
III. that information is acknowledged in the reports.
IV. that the meaning of information can be comprehended by users.

A) I and II
B) II and III
C) I and IV
D) III and IV