Which of the Following Statements Regarding Chapter 4 - the Elements

Multiple Choice

Which of the following statements regarding Chapter 4 - The Elements of Financial Statements of the IASB's conceptual framework is false?

A) The focus of the definitions of assets and liabilities moved to the existence of a right (or an obligation) that has the potential to produce (or require an entity to transfer) economic benefits.
B) It requires that a present obligation be as a result of past events.
C) It changes how an entity distinguishes between a liability and an equity instrument.
D) It removes of the reference to the expected flow of economic benefits in defining assets and liabilities.