The IASB's conceptual framework defines _____ as increases in economic benefits during an accounting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, other than those relating to contributions from equity participants.
A)asset
B)liability
C)equity
D)revenue
E)expense

Question

Quizplus · Accepted Answer

The definition provided in the question aligns with the concept of revenue, which is defined by the IASB's conceptual framework as increases in economic benefits during an accounting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, other than those relating to contributions from equity participants.

The IASB's Conceptual Framework Defines _____ as Increases in Economic