In Accordance with AASB Framework Which of the Following Is

question 15

Multiple Choice

In accordance with AASB framework which of the following is consistent with the definition of expenses?

• A)Expenses are decreases in economic benefits during the accounting period in the form of outflows other than those relating to distributions to equity participants.
• B)Expenses are increases in economic benefits during the accounting period in the form of inflows or enhancement of assets or incurrences of liabilities that result in decreases in equity,other than those relating to distributions to equity participants.
• C)Expenses are decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity,other than those relating to distributions to equity participants.
• D)All of the given answers.
• E)None of the given answers.

---

Definitions:

Selection

The process of choosing or making a choice from a range of options.

Logical Expressions

Expressions that evaluate to either true or false, used primarily in decision-making statements to control the flow of execution in programming.

Output

The data that is produced by a computer program or process after it has completed its execution, which can be presented in various forms such as textual or graphical.

Order Of Precedence

Order of precedence in programming determines the sequence in which operators are evaluated in expressions.