Which of the Following Does NOT Represent an Essential Characteristic

question 42

Multiple Choice

Which of the following does NOT represent an essential characteristic of an asset?

• A) They represent a present economic resource.
• B) The entity is able to transfer the economic benefit if it so chooses.
• C) The entity has control over the resource.
• D) The resource results from a past transaction or event.

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Definitions:

Habituation

The process by which an individual becomes accustomed to a stimulus or environment, leading to a decrease in response over time.

Newborns

Referring to a baby, especially during the first few weeks or months after birth.

First-Born

The status of being the earliest born child in a family, which has been studied for its potential impact on personality, intelligence, and other aspects of development.

Higher IQ

Higher IQ indicates a level of intelligence that is significantly above the average for a given age group.