Which One of the Following Statements Is True

Which one of the following statements is true?

A) A resource is controlled by an entity when anyone can use that resource.
B) Valuing assets and liabilities in the statement of financial position at their original cost is referred to as the historic cost convention.
C) The event giving rise to an obligation does not need to have taken place by the statement of financial position date for an entity to recognize a liability.
D) The statement of financial position shows the market value of an entity.