Which of the following are the three essential criteria in the definition of an asset: $\begin{array}{llll}\text{ I. }& \text{ Future sacrifices of economic }& \text{ IV. }& \text{ Past event. }\\ & \text{ benefits }& & \\ \text{ II. }& \text{ Future economic benefits. }& \text{ V. }& \text{ Ownership. }\\ \text{ III. }& \text{ Present obligation. }& \text{ VI. }& \text{ Control. }\end{array}$

A) I, III, VI.
B) II, IV, VI.
C) II, III, VI.
D) I, III, V.

Economic Benefits

The gains received or receivable by an entity as a result of past or future transactions or events.

Asset

A present economic resource controlled by the entity as a result of past events. An economic resource is a right that has the potential to produce economic benefits.

Control

The power to influence or direct the behavior of people or the course of events.