Which is not a criteria for recognition of financial information in the IFRS Conceptual Framework?
A)The amount is reasonably measurable.
B)The expenses should be matched with revenues.
C)The amount must be measured at historical cost.
D)Inflow or outflow of cash flows are probable.

Question

Quizplus · Accepted Answer

The recognition criteria for financial information in the IFRS Conceptual Framework include that the amount is reasonably measurable, expenses should be matched with revenues, and inflow or outflow of cash flows are probable. However, the amount does not necessarily have to be measured at historical cost.

Which Is Not a Criteria for Recognition of Financial Information