Question: Question 21. Which statement is correct regarding the 2018 Conceptual Framework? Current value measurements include fair value and value in use An asset is recognised

Question 21. Which statement is correct regarding the 2018 Conceptual Framework?

Current value measurements include fair value and value in use

An asset is recognised if it is probable that economic benefits will flow to an entity

Part of an entity cannot be a reporting entity

All income and expenses must be measured in profit or loss without exception

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