Which of the Following Is Not a Primary Characteristic of the Accounting

question 86

Multiple Choice

Which of the following is not a primary characteristic of the accounting definition of an asset?

• A) The capacity to provide benefits to the entity
• B) Control but not necessarily ownership
• C) Representing past events
• D) The ability to be reliably measured

---

Definitions:

Defendant

The party sued in a civil lawsuit or the party charged with a crime in a criminal prosecution.

Good Samaritan Act

Legislation that offers legal protection to people who give reasonable assistance to those who are injured, ill, in peril, or otherwise incapacitated.

Felony

Crime sufficiently serious to be punishable by death or a term in state or federal prison.

Case Law

Law established by previous court decisions and based on the principle of precedent rather than on statutes or regulations.