What is the major distinction between income and expenses under IFRS?

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Intermediate Accounting

ISBN: 978-0470873991

IFRS Edition

Authors: kieso, weygandt and warfield.

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Question Posted: Dec 15, 2011 08:23 AM

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What is the major distinction between income and expenses under IFRS?

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Income is increases in economic benefits during the accounting period in the form of inflows or e...View the full answer

Intermediate Accounting

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