Which of These Criteria Specified in the Conceptual Framework Must

question 12

Multiple Choice

Which of these criteria specified in the Conceptual Framework must be met before a liability can be recognised in the accounting records?
i. It is probable that the future sacrifices associated with the item will occur.
ii. The liability is beyond a reasonable doubt.
iii. The liability has a cost or value that can be measured with reliability.

• A) i, ii, iii
• B) i, iii
• C) ii, iii
• D) i, ii

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Definitions:

Selective Attention

The cognitive process of focusing on a specific aspect of information while ignoring other perceivable information.

Change Blindness

A phenomenon where an observer fails to notice significant changes in a visual scene, indicating the selective aspects of visual perception.

Blindsight

A condition in which people are unable to consciously see objects in certain parts of their field of vision despite responding to them in non-conscious ways.

States of Consciousness

Different levels of awareness of one's surroundings, sensations, and thoughts, ranging from full alertness to deep sleep.