The Cost of Property, Plant and Equipment Is Only Recognised

question 16

Multiple Choice

The cost of property, plant and equipment is only recognised if the cost of the asset can be reliably measured and:

• A) the asset has been paid for in cash.
• B) the asset has been received by the purchaser.
• C) the cost is not directly attributable to the asset.
• D) it is probable that future economic benefits associated with the asset will flow to the entity.

---

Definitions:

Average Age

The mean age of a specific group or population, calculated by dividing the sum of individual ages by the number of individuals.

U.S. Workforce

refers to the total population of employed and unemployed individuals in the United States, actively participating or seeking participation in the country's labor market.

Management Position Description Questionnaire

A tool used to define the responsibilities, duties, and qualifications required for a management position.

Standardized

A process or product that has been made consistent across various conditions or applications, often through the implementation of uniform standards.