Which of these is not always a characteristic of an asset?
A) expected future economic benefits
B) ability of the benefit to be measured in money terms
C) exclusive control of the economic benefits
D) legal ownership by the entity

Question

Quizplus · Accepted Answer

Legal ownership by the entity is not always a characteristic of an asset as some assets may be leased or rented by the entity but not owned by them. However, expected future economic benefits, ability to measure in money terms, and exclusive control of economic benefits are generally characteristics of an asset.

Which of These Is Not Always a Characteristic of an Asset