An Example of the Derecognition of a Financial Asset Is

question 29

Multiple Choice

An example of the derecognition of a financial asset is:

• A) the entity no longer has control of the asset.
• B) the expiration of the contractual rights to cash flows.
• C) the asset no longer qualifies for recognition in the statement of financial position.
• D) All of the above.

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Definitions:

Consistent

Marked by harmony, regularity, or steady continuity; free from variation or contradiction.

Missing Data

Situations where information that was supposed to be collected or recorded is not available, potentially impacting analysis or decision-making.

Pie Chart

A circular statistical graphic divided into slices to illustrate numerical proportion.

Subdivisions

The act or process of dividing something into smaller parts, sections, or categories for detailed examination or organization.