Under ASPE, When Deciding Whether to Recognize a Financial Statement

question 54

Multiple Choice

Under ASPE, when deciding whether to recognize a financial statement element (or not) , and how to measure it, the accountant should

• A) always use estimates.
• B) record "hard" numbers and ignore "soft" numbers.
• C) determine an acceptable level of uncertainty.
• D) recognize a financial statement element even if it cannot be measured.