A Recognition Criterion for Assets Is That the Entity Reporting

question 19

Multiple Choice

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:

• A) The interrelationships between legislation and regulations governing heritage assets may make it difficult to establish which government agency has ultimate control over the asset.
• B) It can be difficult to control access to a range of heritage assets.
• C) The government agency with responsibility for the heritage asset may be restricted in what it may do with the asset.
• D) The interrelationships between legislation and regulations governing heritage assets may make it difficult to establish which government agency has ultimate control over the asset; and the government agency with responsibility for the heritage asset may be restricted in what it may do with the asset.
• E) All of the given answers.

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Definitions:

Ammonia

A compound of nitrogen and hydrogen (NH3) that is a byproduct of the metabolism of animals and is used in various industrial processes.

Metanephridial Organs

Metanephridial organs are excretory structures in some invertebrates, including annelids, that filter fluid directly from the animal's body cavity.

Mollusks

Invertebrates with a soft body, often protected by a hard shell, belonging to the phylum Mollusca, which includes snails, clams, and squids.

Common

Referring to something that is usual, typical, or shared among multiple entities or individuals.