IAS 17 Defines the Benefits of Ownership to Include

question 12

Multiple Choice

IAS 17 defines the benefits of ownership to include:

• A)those obtainable from the insurance claims associated with it.
• B)those obtainable from gains in the realisable value of the asset.
• C)those obtainable from the profitable use of the asset.
• D)those obtainable from gains in the realisable value of the asset and those obtainable from the profitable use of the asset.

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Definitions:

Nonmonetary Rewards

Nonmonetary rewards consist of benefits provided to employees that do not involve financial compensation, such as recognition or career development opportunities.

Shareholders

Individuals or entities that own shares in a corporation and have an interest in its performance and governance.

Financial Value

The quantifiable worth of an asset, security, or company, often determined by material and tangible factors within markets.

Extrinsic Rewards

Incentives provided by an external source, such as an employer, to motivate employees, which can include wages, bonuses, and other tangible benefits.