Under IFRS,which of the Following Is Not a Criteria for Recognizing

question 121

Multiple Choice

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

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

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Definitions:

Core Competencies

Fundamental strengths or unique advantages that a company or individual possesses, central to its success and competitiveness.

World-Class Capabilities

Exceptional skills, methods, and processes that enable an organization to perform at the highest international standards.

Outsourcing Concerns

Issues or considerations related to the practice of transferring business processes or services to external providers, including quality, security, and dependency risks.

Supplier's Risks

Potential challenges or threats that suppliers face, including financial instability, production issues, or market demand changes.