Which of the Following Must Exist Before Income Can Be

question 3

Multiple Choice

Which of the following must exist before income can be recognised?

• A) The increase in future economic benefits related to an increase in an asset or a decrease in a liability must have arisen.
• B) The increase in future economic benefits must be able to be measured reliably.
• C) All options must exist.
• D) Income recognition must occur at the same time as the recognition of increases in assets or reductions in liabilities.