Under the Current Conceptual Framework Which of the Following Is

question 4

Multiple Choice

Under the current Conceptual Framework which of the following is not an essential characteristic of an asset?

• A) It must have physical substance.
• B) The resource must be controlled by the entity.
• C) It must have the potential to contribute to the flow of cash and cash equivalents to the entity.
• D) The event giving rise to the entity's control over the resource must have occurred.

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Definitions:

Rheumatology

A branch of medicine focusing on the diagnosis and treatment of rheumatic diseases that affect the joints, muscles, and bones.

Endocrinology

The branch of medicine and biology dealing with the endocrine system, its diseases, and its specific secretions called hormones.

Cardiology

A branch of medicine dealing with disorders of the heart as well as parts of the circulatory system.

Oncologist

A specialist who identifies tumors and treats patients who have cancer.