Which of the following qualities should an asset possess for it to qualify for recognition as an asset?
(a) It should have physical existence
(b) It should be within the entity’s control
(c) It should always be separable, i.e. realisable without selling the whole business
(d) There should be a probability of future economic benefit from it

Transcribed Image Text:

wa&b xc& d y b&c zb & d N