Question
Which of the following statements is true? Select one: a.Income is increases in economic benefits during the accounting period in the form of inflows or
Which of the following statements is true?
Select one:
a.Income is increases in economic benefits during the 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.
b.Income is increases in economic benefits during the accounting period in the form of outflows or depletions of assets or decreases in liabilities that result in increases in equity, other than those relating to contributions from equity participants.
c.Income is decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to equity participants.
d.Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, including those relating to contributions from equity participants.
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