The IASB's Conceptual Framework Defines _____ as Increases in Economic

question 2

Multiple Choice

The IASB's conceptual framework defines _____ as increases in economic benefits during an accounting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, other than those relating to contributions from equity participants.

• A)asset
• B)liability
• C)equity
• D)revenue
• E)expense

---

Definitions:

Job Fits

The degree to which an individual's skills, experiences, and personality are aligned with the requirements and culture of a job or organization.

Groupthink

A psychological phenomenon where the desire for harmony and conformity in a group leads to incorrect or dysfunctional decision-making outcomes.

Critical Evaluator

A role or capacity to assess situations or intellectual propositions with depth and insight, emphasizing thorough analysis and judgement.

Nominal Group Technique

An approach to decision-making that structures interaction among team members discussing problems and ideas.