The recognition criteria that an asset must meet before it may be recognised and presented in the financial statements include:
A) that the recognition of the asset is relevant to user decision making;
B) probability that future economic benefits will flow to the entity;
C) that the information about the asset is neutral;
D) a likelihood that the cost of the asset is verifiable.

Question

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The Answer of The recognition criteria that an asset must meet before it may be recognised and presented in the financial statements include:
A) that the recognition of the asset is relevant to user decision making;
B) probability that future economic benefits will flow to the entity;
C) that the information about the asset is neutral;
D) a likelihood that the cost of the asset is verifiable.

The Recognition Criteria That an Asset Must Meet Before It