The Term Used in the Framework for the Preparation and Presentation

question 3

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) revenue.
• B) gain.
• C) fees.
• D) profit.

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Definitions:

Demote

In outline or hierarchy structures, to lower the rank or position of an item within a structured list or diagram.

Right Tab Stop

A tab stop type in text editing, aligning the text to the right at a set position on the ruler.

Distribute Rows

An action in spreadsheet and design software that evenly spaces rows within a selected range or area.

AutoFit Contents

A feature in spreadsheet and word processing software that automatically adjusts the size of columns, rows, or text to accommodate its content.