IndAS Asset quiz

yasaswi gomes (My grammar is 💯 good I)   (7290 Points)

16 May 2021  

1. An asset is a present economic resource controlled by the entity as a result of past events.

2. Asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity

Answer:

1. True

2. True