Under IFRS, Which of the Following Is Not a Criterion

question 37

Multiple Choice

Under IFRS, which of the following is not a criterion for recognizing items in the financial statements?

• A) The measurement of the item is reliable.
• B) The item is relevant.
• C) The item meets the definition of an element.
• D) Economic benefits from the item are probable.

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Definitions:

Marginal Cost Curve

A graphical representation that shows how the cost of producing one additional unit of a good changes as the production volume varies.

Short-Run Marginal Cost

The change in total cost associated with producing one additional unit of output, considering some inputs are fixed.

Embryonic Disk

A key structure in early embryonic development from which the embryo begins to form.

Ectoderm

The outermost layer of an embryo in early development, giving rise to the nervous system and external skin layers.