A. SFAC No. 5 indicates that an item, to be recognized, should meet four criteria, subject to the cost benefit constraint and the materiality threshold. Which of the following is not one of the four criteria?
1. The item fits one of the definitions of the elements.
2. The item has a relevant attribute measurable with sufficient reliability.
3. The information related to the item is relevant.
4. The information related to the item is reliable.
5. The item has comparability, including consistency.
B. SFAC No. 5 identifies five different measurement attributes currently used in practice. Which of the following is not one of the measurement attributes currently used in practice?
1. Historical cost
2. Future cost
3. Current market value
4. Net realizable value
5. Present, or discounted, value of future cash flows