Which of the Following Is Not an Essential Characteristic for an Asset

question 23

Multiple Choice

Which of the following is not an essential characteristic for an asset?

• A)future economic benefits are expected to flow to the entity from the resource.
• B)the resource must be controlled by the entity
• C)the resource must be as a result of a past event
• D)the resource must be owned by the entity

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Definitions:

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the end of World War II until the dissolution of the Soviet Union in 1991, characterized by threats, propaganda, and other measures short of open warfare.

Consumerism

A social and economic order that encourages the acquisition of goods and services in ever-increasing amounts.

Foreign Policy

A government's strategy in its interactions with other nations, designed to achieve national objectives.

Age of Affluence

A period characterized by significant economic growth and prosperity, leading to increased consumer spending and lifestyle enhancements, often associated with the post-WWII era in the United States.