Which of the Following Do You Think Are the Most

question 1

Multiple Choice

Which of the following do you think are the most critical characteristics in selecting a measure?

• A) Validity: if a measure doesn't measure the concept it is supposed to measure, why bother?
• B) Reliability: if a measure doesn't consistently give the same results when it's used under similar conditions, why bother?
• C) Easy to use: if a measure is so complicated to use, regardless of its validity or reliability, why bother?
• D) Accessible: if a measure is expensive or restricted, regardless if it is easy to use, valid, and reliable, why bother?
• E) all of the above
• F) none of the above

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Definitions:

Property, Plant and Equipment

Tangible assets that are held for use in the production or supply of goods and services, rental to others, or administrative purposes and are expected to be used during more than one financial period.

Asset Recognition

The criteria and process for recording assets on the balance sheet when it is probable that future economic benefits will flow to the entity.

Cost Measurement

The process of determining the cost of a specific item, project, or activity, which can include both direct and indirect costs.

AASB 116

An Australian Accounting Standard Board regulation that outlines the accounting treatment for property, plant, and equipment, including recognition, measurement, and depreciation.