The International Accounting Standards Board's Conceptual Framework for Financial Reporting

The International Accounting Standards Board's Conceptual Framework for Financial Reporting defines an asset as "a present economic resource controlled by the entity as a result of past events. An economic resource is a right that has the potential to produce economic benefits.". In addition, the IASB Cocneptual Framework only allows entities to recognise assets when their value can be measured in such a way that a faithful representation is achieved. In which one of the following situations would a manufacturing company not recognise an asset on its statement of financial position?

A) A new piece of plant and equipment is purchased for use in the production process.
B) Raw materials for use in production are bought by the company.
C) A trade receivable that owes money to the company goes into liquidation with no likelihood that it will be able to pay what is owed.
D) Cash that is not required to finance day to day trading operations is invested in a bank account paying a fixed rate of interest for a fixed term of three years.