[ CLO 3] In accounting analysis, the following is NOT among the criteria for recognizing assets. O Resources are owned by the firm O The future economic benefits are measurable with a reasonable degree of certainty. O Resources are rare O Resources are expected to provide future economic benefits sufficient to recover their cost.

Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter10: Long-term Assets: Fixed And Intangible
Section: Chapter Questions
Problem 10.28EX
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Question 17
[ CLO 3] In accounting analysis, the following is NOT among the criteria for recognizing assets.
O Resources are owned by the firm
O The future economic benefits are measurable with a reasonable degree of certainty.
O Resources are rare
Resources are expected to provide future economic benefits sufficient to recover their cost.
Transcribed Image Text:Question 17 [ CLO 3] In accounting analysis, the following is NOT among the criteria for recognizing assets. O Resources are owned by the firm O The future economic benefits are measurable with a reasonable degree of certainty. O Resources are rare Resources are expected to provide future economic benefits sufficient to recover their cost.
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