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The IASB's Conceptual Framework Defines _____ as Increases in Economic

Question 2

Multiple Choice

The IASB's conceptual framework defines _____ as increases in economic benefits during an accounting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, other than those relating to contributions from equity participants.


A) asset
B) liability
C) equity
D) revenue
E) expense

Correct Answer:

verifed

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