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How applying the principles in conceptual framework

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A company has an extensive customer base. Over many years, it has built a detailed customer list, which includes various data including demographics, contact details, purchasing history and preferences. It has spent quite a lot of resources on developing this customer list so that it can effectively target marking campaigns and manage customer relations. A number of businesses have approached the company to purchase their customer list and have offered prices from $60 000 to $210 000. However, the company has decided not to sell at this stage.

Question 1: Explain whether this customer list would meet the definition and recognition criteria of an asset, applying the principles in 2018 Conceptual Framework.

Reference no: EM132554173

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How applying the principles in conceptual framework : Explain whether this customer list would meet the definition and recognition criteria of an asset, applying the principles in 2018 Conceptual Framework.
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