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What are the somekey criteria for an item, property, plant or equipment to be recognized as an asset?

This question is part of International Accounting Standards
Asked by Geronimo, Last updated: Jan 12, 2021

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3 Answers

John Adney

John Adney

John Adney
John Adney

Answered Nov 23, 2017

When it is probable that economic benefits will flow to the entity from the asset and it can be reliably measured

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kkarulvel

kkarulvel

kkarulvel
Kkarulvel

Answered Feb 12, 2017

Both are correct
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John Smith

John Smith

John Smith
John Smith

Answered Nov 10, 2016

When it can be reliably measured
2. When it is probable that economic benefits will flow to the entity from the asset
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