Subsequent to the Initial Recognition of an Asset an Entity

question 13

Multiple Choice

Subsequent to the initial recognition of an asset an entity has a choice on the measurement basis to be adopted. The entity can choose either:

• A) cost or revaluation.
• B) cash or accrual.
• C) tax or accounting.
• D) current or non-current.

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Definitions:

Idea Quotas

Fixed or minimum numbers of creative ideas or innovations that individuals or teams are expected to produce within a certain timeframe.

Creativity

The ability to produce original and unusual ideas, or to make something new or imaginative.

Pressure

The feeling of stressful urgency caused by the need to achieve or perform, often within a limited timeframe.

Imagination

The faculty or action of forming new ideas, images, or concepts not present to the senses.