Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 30, 2024

Which of the following is not one of the four requirements for an asset to be recognized on the balance sheet? Asset acquired at a

Which of the following is not one of the four requirements for an asset to be recognized on the balance sheet?

Asset acquired at a measurable cost

Asset must be easily converted into cash

Asset expected to produce a future economic benefit

Asset is obtained or controlled by the entity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information System Welfare Approach

Authors: Susanta Mitra

1st Edition

8889950776, 979-8889950776

More Books

Students also viewed these Accounting questions

Question

(LO 8-4) XBRL stands for: a. Extensible Business Reporting Language. b. Extensive Business Reporting Language. c. XML Business Reporting Language. d. Excel Business Reporting Language.

Answered: 1 week ago

Question

★★★★★

At a beach the light is generally partially polarized due to reflections off sand and water. At a particular beach on a particular day near sundown, the horizontal component of the electric field...

Answered: 1 week ago

Question

★★★★★

Ms . Prentice owns P Ltd . , a Canadian - controlled private corporation with assets worth $ 4 , 0 0 0 , 0 0 0 and liabilities amounting to $ 1 , 0 0 0 , 0 0 0 . 6 0 % of its assets are used in an...

Answered: 1 week ago

Question

★★★★★

4/ Utilizando las siguientes cuentas y una tasa de gastos generales del 150% del costo de mano de obra directa, calcule la cantidad de gastos generales aplicados. Inventorio en progreso WIP inicial...

Answered: 1 week ago

Question

★★★★★

Which period is known as the chalolithic age ?

Answered: 1 week ago

Question

★★★★★

1. Levels of management found in an organisation (a) Three (b) Four (c) Five (d) Seven 2. Planning means (a) Designing (b) Drafting (c) Both (a) and (b) (d) None of the above...

Answered: 1 week ago

Question

★★★★★

Explain the Neolithic age compared to the paleolithic age ?

Answered: 1 week ago

Question

★★★★★

1. History of Economic Thought may be broadly into (a) Two parts (b) Three parts (c) Four parts (d) Five parts 2. The fundamental aim of the mercantilise was the make country (a) Normal progress (b)...

Answered: 1 week ago

Question

★★★★★

1. Pick the correct statement regarding geminal coupling (a) Electron donation makes the coupling less positive (b) Electron withdrawal group makes the J more positive (c) Geminal coupling constant...

Answered: 1 week ago

Previous Question Next Question