QUESTIONS 45 THROUGH 68 RELATE TO FINANCIAL STATEMENT ANALYSIS

48. To be recognized as a financial statement element under the IFRS Framework for the

Preparation and Presentation of Financial Statements an element most appropriately

needs to:

A. have a cost or value that can be measured with reliability.

B. normally be carried at historical cost, current cost or fair market value.

C. provide certainty that any future economic benefit associated with the item will flow

to or from the enterprise.