All Sections The Framework states that an asset should be recognised when and only when: i.The asset possesses a cost or other value that can be measured red 1.00 ion , reliably ii.lt is legally owned by the entity ii.lt is probable that the future economic benefits embodied in the asset will eventuate Select one: O a. i and i only O b. i and ii only O c. ii and ili only d' i, ii and