In order for a capital asset to be presented on a company's balance sheet, all of the following criteria must be met except:

Name: In order for a capital asset to be presented on a company's balance sheet, all of the following criteria must be met except:
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Ownership is not a necessary condition for an asset to be recognized on the balance sheet. Control over the asset is the key criterion. An entity can control and recognize an asset it leases, for example, without owning it.

In Order for a Capital Asset to Be Presented on a Company's