Which of the followings are the recognition criteria of elements of financial statements?
$\begin{array}{ll}
I.\text { Existence of economic benefits}&III.\text { Probable occurrence }\
II.\text {Reliable measurement }&IV.\text { Control by the entits}\
\end{array}$
A) I and II
B) II and III
C) II and IV
D) I and III

Question

Quizplus · Accepted Answer

The recognition criteria for elements of financial statements are reliable measurement and probable occurrence.

Which of the Followings Are the Recognition Criteria of Elements