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According to the Framework for Preparation and Presentation of Financial Statements of the IASB, which of the following is NOT required for asset recognition?
Technological Competence
Technological competence involves the knowledge, skills, and abilities to effectively use technological tools and processes in a specific domain or activity.
Fiduciary Relationship
A legal relationship in which one party, the fiduciary, is obligated to act in the best interest of another party, typically in financial or property matters.
Expulsion from the Firm
The act of formally removing a partner or member from a business or professional practice due to misconduct or breach of agreement.
Fiduciary Duty
An obligation to act in the best interest of another party, such as the relationship between a trustee and the beneficiaries of a trust.
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