Which of the Following Is Not an Element of Financial

question 5

Multiple Choice

Which of the following is not an element of financial statements contained in the IASB's Framework for the Preparation of Financial Statements?

• A)Gain
• B)Income
• C)Expense
• D)Asset

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Definitions:

Report Design View

A tool or mode in database and reporting software that allows users to arrange and design the layout and content of reports before they are generated.

Report Section

A part of a report document that organizes information into segments for clarity, including sections like the introduction, methodology, findings, and conclusion.

Report Design View

A feature in database and reporting software that allows users to visually design the layout and structure of reports.

Reports

Documents that present information in an organized format for analysis and decision-making, often generated by software from data analysis.