Which Is Not a Criteria for Recognition of Financial Information

question 41

Multiple Choice

Which is not a criteria for recognition of financial information in the IFRS Conceptual Framework?

• A)The amount is reasonably measurable.
• B)The expenses should be matched with revenues.
• C)The amount must be measured at historical cost.
• D)Inflow or outflow of cash flows are probable.

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Definitions:

Outside Opinions

Perspectives or advice that come from individuals not directly involved in a situation or problem, often considered to provide objective viewpoints.

Diffusion of Responsibility

A socio-psychological phenomenon whereby a person is less likely to take responsibility for action or inaction when others are present.

Prosocial Behavior

Acts performed with the intention of benefiting others, such as helping, sharing, or donating.

Cyberbullying

A form of bullying or harassment using electronic means, typically through social media platforms, emails, or text messages.