In Accordance with IASB Conceptual Framework Which of the Following

question 11

Multiple Choice

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

• A) decreases in economic benefits during the accounting period in the form of outflows other than those relating to distributions to equity participants
• B) 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) 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 are correct.

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Definitions:

Anthropologist

is a scientist who studies human societies, cultures, and their development.

Edward T. Hall

An anthropologist known for his studies on cultural perceptions of space and communication theories.

Low-Context Cultures

Cultures that emphasize communication via spoken or written words.

Communication

The process of transferring information, ideas, or feelings between individuals or groups to achieve understanding or share meaning.