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In accounting, the concept of Recognition means* A. The process of formally incorporating in the totals of the balance sheet and income statement an
In accounting, the concept of " Recognition" means*
A. The process of formally incorporating in the totals of the balance sheet and income statement an item that meets the probability and measurability criteria for accountable events.
B. Assigning an amount or value to an accountable event
C. Journalizing a transaction in the books or original entry
D. Journalizing and posting an accountable event and including it in the trial balance total
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