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Which of the following is true of assets? A. Assets should be recognized only when it is probable that future economic benefits will flow to

Which of the following is true of assets?

A. Assets should be recognized only when it is probable that future economic benefits will flow to the enterprise.

B. Assets should be recognized when it is probable that an outflow of resources will be required to settle them.

C. Asset is defined as decrease in equity, other than from transactions with owners.

D. A resource must be owned for it to be recognized an asset of the enterprise.

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