Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following are the three essential cri

Which of the following are the three essential criteria in the definition of an asset:...

50.1K

Verified Solution

Question

Accounting

Which of the following are the three essential criteria in the definition of an asset:

I.

Future sacrifices of economic benefits

IV.

Past event.

II.

Future economic benefits.

V.

Ownership.

III.

Present obligation.

VI.

Control.
Group of answer choices
II, IV, VI
I, III, VI
II, III, VI
I, III, V

In AASB 107, is/are short-term, highly liquid investments that are readily convertible into

known amounts of cash and are subject to an insignificant risk of change in value.

Group of answer choices
cash equivalents.
cash.
bills of exchange.
accounts receivable.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An MSP430 microcontroller system is to be designed with the following requirements: The circuit operates from a...

Electrical Engineering
Q

Three charges are released from rest on a smooth horizontal table from the situation shown...

Physics
Q

20 You are planning to start a home business You decide to build a workroom...

Geometry
Q

Compute the slope (constant rate of change) of the line connecting the points.(-10, 21) and...

Basic Math
Q

cannot have a negative acceleration Do you agree or disagree with this statement Justify your...

Statistics
Q

with form axp points 340s and A power function passes through the 4 1280 Find...

Calculus
Q

Calculate the gradient of h x y z x 2 Vh 3x 4yz3 x 3z3...

Calculus
Q

2 1 points TB MC Qu 05 92 Algo When preparing its When preparing its...

Algebra
Q

On January1,2025, Kayaking Unlimited issues 9%,20-year bonds payable with a face value of $ 200...

Accounting
Q

Based on the below 10-K filing, what amount (in $ million) of its accounts receivables...

Accounting
Q

Moore Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $400,000 for April and...

Accounting
Q

Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in...

Accounting