Question: Assets have two essential characteristics. One is that they involve present economic resources. The second is that Select one: a . the entity has a

Assets have two essential characteristics. One is that they involve present economic resources. The second is that
Select one:
a. the entity has a right to access these resources.
b. they result from peripheral or incidental transactions.
c. they result from ordinary activities.
d. they are enforceable.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

As relay runner A enters the 65-ft-long exchange zone with a speed of 30 ft/s, he begins to slow down. He hands the baton to runner B 2.5 s later as they leave the exchange zone with the same...

Q:

Hello again, this is another class and I need your help again. I misunderstood the start date of the class so I'm a bit late for this first week so I'm sorry for having to ask you to finish some of...

Q:

Hello again, this is another class and I need your help again. I misunderstood the start date of the class so I'm a bit late for this first week so I'm sorry for having to ask you to finish some of...

Q:

Question: find the NPV, fill the rest of the table base on the provided case study. I attached 2 excel tables wich some numbers calculated and need the other number to find out base on the tables...

Q:

ACC/291 Principles of Accounting II - Discussion Questions [This isn't an essay] Discussion on this Learning Activity: Week 2 Electronic Reserve Readings Wk2 DQ#6 - Liability Why is the definition of...

Q:

ACC/291 Principles of Accounting II - Discussion Questions [This isn't an essay] Discussion on this Learning Activity: Week 2 Electronic Reserve Readings Wk2 DQ#6 - Liability Why is the definition of...

Q:

For Question 1 read the questions then answer them first using IASB Concepctual Framework 2010 then answer them a second time using FASB?s Conceptual Framework statement. (QUESTION 1 HAS TO BE...

Q:

por Shine, Chapter 2.pdf X + X @ File | D:/Downloads/Shine,%20Chapter%202.pdf . . . of 13 Q + | Page view A Read aloud | (T) Add text | Draw Highlight Erase 13 Human Problems in Organizations safety....

Q:

I need to answer the questions around 5-6 pages. 1. Why is there a need for separate system for governmental accounting and reporting? 2. Why can't we use the same standards applicable for private...

Q:

please help with the assignment to answer the following question : Which currency is Open Safari's presentation currency? Which currency is Open Safari's functional currency? Note: you will need to...

Q:

Pick a case and become familiar with the case requirements. Use what you learned on chapter 19. For formatting, use times new roman 12 pt font and double space your answers. You must include...

Q:

12. An observer A sees a source of light and another observer B to be moving in exactly opposite directions with equal speeds of 0.6 c. Observer A measures the wavelength of light as 4000 . Calculate...

Q:

Write an equation showing how you could prepare ethyl phenyl ketone from propanenitrile and a Grignard reagent. What is the structure of the imine intermediate?

Q:

BE3.7 (LO 2, 3) Finley plc had income from continuing operations of 10,600,000 in 2025. During 2025, it disposed of its restaurant division at an after-tax loss of 189,000. Prior to disposal, the...

Q:

Ben and Jen are a married couple. In 2024, when the gift tax exclusion is $18,000, Ben gives his brother $100,000, What are the taxable gifts if Ben and Jen elect gift splitting? What are Ben's total...