According to the AASB's Conceptual Framework an Asset Is Defined

question 1

Multiple Choice

According to the AASB's Conceptual Framework an asset is defined as a/an:

• A)contingent item depending on another event occurs at some time in the future.
• B)resource controlled by the entity as a result of future events and from which future economic benefits are expected to flow to the entity.
• C)resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.
• D)item that has a physical existence and can be converted into cash within the next accounting period.

---

Definitions:

Theory of Reasoned Action

A theory that suggests individuals' behavioral intentions are shaped by their attitudes toward the behavior and subjective norms surrounding it.

Ajzen

Refers to Icek Ajzen, a prominent psychologist known for his work on the Theory of Planned Behavior, which explains how attitudes, subjective norms, and perceived control over behavior influence intentions and actions.

Social Cognitive Theory

A framework for understanding, predicting, and changing human behavior that emphasizes the role of observational learning, social experiences, and reciprocal determinism in the development of personality.

Theory of Planned Behavior

A psychological theory that predicts human behavior on the basis of attitudes, subjective norms, and perceived control over the behavior.