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The International Accounting Standards Board (IASB) Defines One of the 5

Question 58

Multiple Choice

The International Accounting Standards Board (IASB) defines one of the 5 elements as follows: "the residual interest in the assets of the entity after deducting all its liabilities" Which element matches this description?


A) Retained earnings.
B) Income.
C) Equity.
D) All of the choices match this definition.

Correct Answer:

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