How do Latter-day Saints determine which manuscripts should be considered Scripture?

The New Testament makes several references to "Scripture" or "the word of God", but without specifying a concrete canon: | Passage (ESV) | Content | | - | - | | Acts 17:11 | Now these Jews were more noble than those in Thessalonica; they received the word with all eagerness, examining **the Scriptures** daily to see if these things were so. | | 2 Timothy 3:16-17 | 16 **All Scripture** is breathed out by God and profitable for teaching, for reproof, for correction, and for training in righteousness, 17 that the man of God may be complete, equipped for every good work.| | 2 Peter 1:20-21 | 19 And we have the prophetic word more fully confirmed, to which you will do well to pay attention as to a lamp shining in a dark place, until the day dawns and the morning star rises in your hearts, 20 knowing this first of all, that no prophecy of **Scripture** comes from someone's own interpretation. 21 For no prophecy was ever produced by the will of man, but men spoke from God as they were carried along by the Holy Spirit. | | Hebrews 4:12 | For **the word of God** is living and active, sharper than any two-edged sword, piercing to the division of soul and of spirit, of joints and of marrow, and discerning the thoughts and intentions of the heart. | How do Latter-day Saints decide whether a given manuscript (or a copy of a manuscript) should be considered "Scripture," and how does this approach contrast with that of other faiths like Catholicism and Protestantism? Furthermore, considering the divergences in canon determination among different traditions, what are the merits of the Latter-day Saint method? What critiques can be leveled against the processes followed by other traditions, and what makes the Latter-day Saint method of canon determination preferable? --- See also: https://christianity.stackexchange.com/q/101393/61679