The Framework States That an Asset Should Be Recognised When

question 50

Multiple Choice

The Framework states that an asset should be recognised when and only when: (i) the asset possesses a cost or other value that can be measured reliably
(ii) it is legally owned by the entity
(iii) it is probable that the future economic benefits embodied in the asset will eventuate.

• A) (i)and (ii)only
• B) (i)and (iii)only
• C) (ii)and (iii)only
• D) (i),(ii)and (iii).

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Definitions:

Clear Liquids

Liquids that are transparent and free of solids, often recommended before certain medical procedures or tests.

Baseline

An initial set of measurements or observations used as a reference point for comparison over time or conditions.

Preoperative

Pertaining to the period or phases preceding a surgical operation, involving preparation and evaluation of the patient for surgery.

Deep Breathe

A respiratory exercise involving deliberate, slow inhalation followed by prolonged exhalation, used to promote relaxation or improve lung function.