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.