Why can an entity not recognise its workforce as an asset on its statement of financial position? Please select all that apply.
A) The entity does not control its workforce.
B) There is no past event giving rise to an asset.
C) There is no potential to produce economic from the workforce.
D) The value of the workforce cannot be measured in such a way that a faithful representation is achieved.
Topic: Liability classification

Question

Quizplus · Accepted Answer

The entity does not control its workforce and the value of the workforce cannot be measured in such a way that a faithful representation is achieved.

Why Can an Entity Not Recognise Its Workforce as an Asset