Which of the Following Is True in Relation to Expenses,according

question 13

Multiple Choice

Which of the following is true in relation to expenses,according to the IASB Framework?

• A) Expenses are restricted to transactions and events relating to 'ongoing major or central operations'
• B) There is no reference to matching of revenue and expenses in the Framework
• C) Expenses would not include losses that were not under the control of the entity, such as uninsured losses of assets from flood
• D) None of the given options are correct

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Definitions:

Mutual Interest

Shared concerns, benefits, or objectives among individuals or groups that lead to cooperative efforts or relationships.

Face To Face

Face to face describes direct interaction or conversation between people, physically present in the same location.

Equity Theory

Proposes that an intimate relationship is satisfying and stable if both partners see it as equitable and mutually beneficial.

Intimate Relationship

A close and personal relationship characterized by emotional, physical, and/or sexual intimacy between individuals.