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Currently, the FASBs Statements of Accounting Concepts (Nos. 5 and 6) define an asset as having all of the following characteristics except: A) costs not
Currently, the FASBs Statements of Accounting Concepts (Nos. 5 and 6) define an asset as having all of the following characteristics except:
A) costs not guided by managements judgment
B) probable future benefits
C) resulting from past transactions and events
D) something that is obtained/controlled by the entity
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