Which of the following statements is a valid argument for not recognising heritage assets in the statement of financial position?

Question

Quizplus · Accepted Answer

The fact that the identity of the party that ultimately controls the heritage asset is not clear can be a valid argument for not recognising it in the statement of financial position. If it is not clear who ultimately controls the asset, then it may not be possible to reliably measure its economic benefits or demand for financial information on it. A, C, and D are not valid arguments against recognising heritage assets. Option E is not a valid answer as it simply states that none of the given options are correct, when in fact there is a correct answer.

Which of the Following Statements Is a Valid Argument for Not