Recognition refers to the process of :. a) analyzing the financial statements.
b) measuring the numbers associated with the elements.
c) recording information in the basic financial statements.
d) estimating amounts for allocation purposes.

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as