The IASB issued an Exposure Draft relating to the conceptual framework in 2015.Regarding presentation and disclosure, what change does this draft propose?
A)renaming the balance sheet to the periodic statement of performance
B)renaming the statement of profit or loss to the statement of income or deficit
C)renaming the balance sheet to the statement of financial health
D)renaming the statement of profit or loss to the statement of financial performance

Question

Quizplus · Accepted Answer

The Exposure Draft proposed renaming the statement of profit or loss to the statement of financial performance to better reflect its purpose in showing the financial results of an entity's operations.

The IASB Issued an Exposure Draft Relating to the Conceptual