Question

3.
The essential characteristics of an asset include all of the following, EXCEPT
a. The asset is the result of past event.
b. The asset provides future economic benefit.
c. The cost of the asset can be measured reliably.
d. The asset is tangible​

Answer 1

d. The asset is tangible​

Step-by-step explanation:

• An asset can be described as a resource controlled by any entity as a result of past events and from which future  economic benefits are expected to flow to the entity.
• The cost of any asset can be measured easily and reliability with a few methods and approaches.
• However, an asset is not always on tangible format.