Under the IASB Framework Revenue Encompasses Both Income and Gains

question 2

True/False

Under the IASB Framework revenue encompasses both income and gains.

---

Definitions:

PAN

Stands for Personal Area Network, which is a network organized around an individual person within a single building or across multiple buildings to facilitate data transmission among devices such as computers, phones, and personal digital assistants.

MOOCs

Massive Open Online Courses, online courses aimed at unlimited participation and open access via the web, often free of charge.

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Network Neutrality

The principle that internet service providers should enable access to all content and applications regardless of the source, without favoring or blocking particular products or websites.