Which of the Following Is Not Considered One of the Six

question 31

Multiple Choice

Which of the following is not considered one of the six frameworks in the framework of frameworks approach?

• A)integrative
• B)collaborative
• C)process
• D)life cycle

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Definitions:

Liabilities

Financial obligations a company owes to outside parties.

Assets

Resources owned or controlled by a business, which are expected to produce future economic benefits.

Accounting Equation

The fundamental principle of accounting that states Assets = Liabilities + Equity, which must always be in balance for accurate financial reporting.

Net Income

Net income is the total profit of a company after all expenses, including taxes and operational costs, are subtracted from its total revenue.