Asked by Jenna Raney on Apr 29, 2024
Verified
Which is not one of the four recognition criteria identified by the FASB?
A) reliable
B) understandable
C) meets the definition of an element
D) measurable
Recognition Criteria
The conditions that must be met for a particular item to be included on the financial statements, ensuring transactions are recorded in the correct accounting period.
FASB
The Financial Accounting Standards Board, an independent nonprofit organization responsible for establishing accounting and financial reporting standards in the United States.
- Discern the standard conventions and presuppositions in the accounting domain.
Verified Answer
Learning Objectives
- Discern the standard conventions and presuppositions in the accounting domain.
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