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According to SFAC 5, the four criteria that must be met for an item to be recognized in the basic financial statements are Multiple select question. the item can be matched with associated revenues. the information about the item is reliable. The item meets the definition of an element. the information about the item is relevant to decision making. the item can be valued at fair value. the item has relevant attributes that are measurable.

Respuesta :

Answer:1)the information about the item is relevant to decision making

2)the item has relevant attributes that are measurable

3)the item meets the definition of an element

4)the information about the item is reliable

Explanation:

The four criteria for met out an item that should be recorded in the financial statements is as follows:

  • The information for the item that is considered for the decision-making.
  • The item that met out the element definition.
  • The item contains significant characteristics that are measurable in terms.
  • The information related to the item should be accurate & reliable.

The information related to the financial statement is as follows:

  • It is written records that show the financial profitability, financial position, and financial performance of the company.
  • It includes the profit & loss account, balance sheet, cash flow statement.
  • It represents reliable and accurate results.

Therefore we can conclude that the above statements are considered.

Learn more about the decision-making here: brainly.com/question/20075422