Which of the following characteristics "Does Not" describe an asset?

1. Probable

2. Controlled by an entity

3. Requires the payment of cash

4. Result of a past transaction

Question added by Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union
Date Posted: 2015/07/28

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by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

option3 is the right answer.

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