Which of the following criteria must be met before an event or item should be recorded for accounting purposes?
A) The event or item can be measured objectively in financial terms.
B) The event or item is relevant and reliable.
C) The event or item is an element.
D) All of these must be met.

Question

Quizplus · Accepted Answer

All of the given criteria must be met before an event or item should be recorded for accounting purposes. The event or item must be measurable in financial terms, relevant and reliable, and must be an element of the accounting system.

Which of the Following Criteria Must Be Met Before an Event