The Term Used in the Framework for the Preparation and Presentation

question 45

Multiple Choice

The term used in the Framework for the Preparation and Presentation of Financial Statements for income which arises in the course of the ordinary activities of an entity is:

• A) gains.
• B) fees.
• C) revenue.
• D) profit.

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Definitions:

Lewin's Basic Change Model

A model that outlines the process of organizational change in three steps: Unfreezing, Changing, and Refreezing.

Planned Change

The deliberate process of implementing new methods or systems in an organization to achieve specific goals.

Education and Communication

The use of training and effective communication strategies to inform, educate, and improve understanding among individuals or groups.

Resistance to Change

The reluctance or refusal to adapt to new methods, practices, or conditions, often due to fear, comfort with the status quo, or perceived threats.