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

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Definitions:

Internal Consistency Reliability

A type of reliability that examines whether items on a test measure only one dimension, construct, or area of interest.

Interrater Reliability

The level of agreement among multiple observers or raters of the same phenomenon or measurement.

Concurrent

Existing, happening, or done at the same time.

Test-Retest

A method used to assess the consistency of a measure by comparing the scores of the same participants on the same test administered at two different times.