A Business purchases a lottery ticket for 3000, giving rise to a 70% chance of winning 20000. The lottery ticket meets the asset definition. Which of the reasons below are correct with respect to the business' understanding of the recognition criteria as they apply to the lottery ticket? 1. The lottery ticket does not meet the recognition criteria 2. There is no existence uncertainty 3. The probability of a flow of economic benefits is not low 4. The level of measurement uncertainty is high 5. Recognition of the lottery ticket will provide relevant information 6. Recognition of the lottery ticket will provide faithfully represented information Complete the following sentence: "The carrying amount of PPE measured using the revaluation model B. A. "... is based on the PPE's fair value" B." is based on the PPE's fair value less costs to sell BE C. ... is based on the PPE's cost, except if fair value is higher than cost" D."... is based on the PPE's highest revalued amount" E. "... is based on the PPE's value in use" Business has a 31 May year-end. The business has a contract with a garden service company to tend towards the garden that surrounds the office buildings. In the last day of the month a monthly sum of 1260 is paid out in advance. Payments for garden services are reported in the account for expenditures related to garden services. On 31 May 2020, a line item for garden services cost 16380 (DR) was shown on the pre-adjustment trial balance. For the year ended 31 May 2020, which of the following amounts will be reported in the statement of comprehensive income (SOCI) and the statement of cash flows (SOCF) in respect of garden services expense? A. SOCI: 16380 SOCF: 16380 B. SOCI: 16380 SOCF: 15120 C. SOCI: 15120 SOCF: 16380 D. SOCI: 15120 SOCF: 15120 E. None of the above