Which of the Following Statements About the Conceptual Framework's Definition

question 1

Multiple Choice

Which of the following statements about the Conceptual Framework's definition of income is correct?

• A) Income is always in the form of enhancements of assets.
• B) Income results in decreases in equity.
• C) Income includes contributions from owners.
• D) Income includes gains from non-ordinary business activities.

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Definitions:

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