Which of the Following Is Not a Chapter of the IASB

question 3

Multiple Choice

Which of the following is not a chapter of the IASB Framework?

• A) The objective of financial statements
• B) The elements of financial statements
• C) Concepts of capital and capital maintenance
• D) Concepts of income and expenditure

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Definitions:

Theory X Assumptions

A management perspective that assumes employees are inherently lazy, need constant supervision, and must be enticed with rewards or threatened with punishment to perform.

Internal Locus

The belief that one has control over their own life and outcomes as opposed to external forces having that control.

Leisure Time

Free time spent away from work, business, or domestic chores, often used for relaxation or hobbies.

External Locus

A belief that one's life events are primarily controlled by external forces or the environment rather than one's own efforts.