Which of the following is true in relation to expenses,according to the IASB Framework?
A) Expenses are restricted to transactions and events relating to 'ongoing major or central operations'
B) There is no reference to matching of revenue and expenses in the Framework
C) Expenses would not include losses that were not under the control of the entity, such as uninsured losses of assets from flood
D) None of the given options are correct

Question

Quizplus · Accepted Answer

The IASB Framework does not explicitly refer to the matching of revenue and expenses, focusing instead on the recognition and measurement of expenses.

Which of the Following Is True in Relation to Expenses,according