A recognition criterion for assets is that the entity reporting them should have control (but not necessarily ownership)of them.Heritage assets often have features that make the establishment of control difficult.These features include:

Question

Quizplus · Accepted Answer

All of the given answers identify features that make it difficult to establish control over heritage assets. The interrelationships between legislation and regulations may make it unclear which agency has ultimate control, access to a range of heritage assets may be difficult to control, and the government agency responsible for the asset may be restricted in what it can do.

A Recognition Criterion for Assets Is That the Entity Reporting