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What are the somekey criteria for an item , property, plant or equipment to be recognized as an asset?



A. When it can be reliably measured
B. When it is controlled by the entity
C. When it is probable that economic benefits will flow to the entity from the asset
D. When it has a residual value

This question is part of International Accounting Standards
Asked by Geronimo, Last updated: Apr 08, 2020

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3 Answers

John Adney

John Adney

Answered Nov 23, 2017

When it is probable that economic benefits will flow to the entity from the asset and it can be reliably measured

 

kkarulvel

Kkarulvel

Answered Feb 12, 2017

Both are correct
 

John Smith

John Smith

Answered Nov 10, 2016

When it can be reliably measured
2. When it is probable that economic benefits will flow to the entity from the asset
 

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