ellenweiklee5813 ellenweiklee5813

28-01-2020
Social Studies

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An item should be recognized in the basic financial statements (subject to a cost effectiveness and materiality constraint) when it meets the four criteria: it can be defined, it can be measured, it is ____________________ and it is reliable.

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ameduanne ameduanne

28-01-2020

Answer: it is relevant.

Explanation: An item is subject to cost effectiveness and materiality constraint if it can be defined, measured, relevant and reliable. Items reported in financial statements are based on historical costs, replacement cost, net realizable value, market value and present value of cash flow.

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