The Conceptual Framework characterises equity as:
A) a result of a profitable business operation.
B) being influenced by the measurement systems adopted for assets and liabilities.
C) a residual.
D) All of these options

Question

Quizplus · Accepted Answer

Equity is characterized as a residual (the difference between assets and liabilities), is influenced by the measurement systems adopted for assets and liabilities, and can result from profitable business operations.

The Conceptual Framework Characterises Equity As