According to the Framework for Preparation and Presentation of Financial

question 18

Multiple Choice

According to the Framework for Preparation and Presentation of Financial Statements of the IASB, which of the following is NOT required for asset recognition?

• A) Control of the resource
• B) Ownership of the resource
• C) Future economic benefits
• D) Reliable measurement of the cost or value of the resource

---

Definitions:

Graphical Representation

The visual display of data or information in a format such as charts, graphs, or diagrams to facilitate understanding.

DC Common

A reference point in electrical circuits using direct current (DC), shared among components to return current, and ensure a common electrical potential.

Terminal 4

A specific connection or interface point, often marked as "4," within an electronic device or wiring system for securing or attaching a conductor.

PLCs

Specialized computers, known as Programmable Logic Controllers, are utilized for managing and controlling machines and processes in the industrial sector.