Which of the following factors must be considered when making a recognition decision?
A) uncertainty as to whether a liability exists.
B) probability of an inflow or outflow of economic benefits.
C) uncertainty as to the reliable measurement of a monetary value.
D) all of the above.

Question

Quizplus · Accepted Answer

All of the mentioned factors must be considered when making a recognition decision in accounting. Uncertainty about the existence of a liability or the reliable measurement of a monetary value, as well as the probability of an inflow or outflow of economic benefits, are crucial factors to consider when deciding whether or not to recognize an item in the financial statements.

Which of the Following Factors Must Be Considered When Making