Under the ConceptualFramework, 'increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants', is the definition of: Select one: a. income. b. contributions. c. equity. d. assets. Which of the following statements about general purpose financial reports (GPFRs) is correct? Select one: a. The IASB's ConceptualFramework and SAC2 have the same definition of GPFRs. b. Neither the IASB's ConceptualFramework or SAC 2 contain a definition of GPFRs. c. The IASB's ConceptualFramework and SAC 4 have different definitions of GPFRS. d. There is no clear definition of GPFRs in the IASB's ConceptualFramework. Under the financial capital concept, profit exists: Select one: a. only when the entity's assets are higher than their liabilities. b. only after the entity has set aside enough capital to maintain the operating capability of its assets. c. only when the effects of inflation have been considered. d. only after the entity has maintained it capital, measured at the dollar value of equity, or the purchasing power of those dollars, at the beginning of the period. Which body currently has the role of supervising real-time trading on the Australian Stock Exchange and enforcing laws against misconduct? Select one: a. The Australian Securities Exchange b. The Australian Securities and Investments Commission c. The Financial Reporting Council d. The Australian Accounting Standards Board