In Accordance with IASB Conceptual Framework Which of the Following

question 55

Multiple Choice

In accordance with IASB Conceptual Framework which of the following is consistent with the definition of income?

• A) increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants
• B) increases in economic benefits during the accounting period in the form of inflows other than those relating to contributions from equity participants
• C) increases in economic benefits during the accounting period in the form of cash inflows or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants
• D) All of the given answers are correct.

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Definitions:

Colostomy

A surgical procedure that creates an opening (stoma) in the abdomen to allow for the evacuation of feces into a collection bag outside the body.

Bowel Evacuation

The process of expelling waste material from the large intestine or bowel, commonly referred to as defecation.

Ostomy Pouch

An ostomy pouch is a medical device attached to the body to collect waste from a surgically created opening (stoma) in the abdomen, used for individuals with certain digestive or urinary tract diseases.

Pressure Ulcers

Localized damage to the skin and underlying tissue resulting from prolonged pressure on the skin, often occurring in bedridden or immobile individuals.