85. Which of the following statements about accounting recognition is (are) true? I. In accounting, there are instances when a gain loss would arise upon initial recognition of an asset. II. No asset can simultaneously be an asset of more than one entity III. At times, two or more entities may share the benefits that an asset provides IV. An appropriate basis for recognizing an asset is when a particular enterprise acquires the right to utilize and control access to the asset's benefits A. I and II only C. I, II and III only B. I and IV only D. I, II, III and IV