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Homework answers / question archive / The Conceptual Framework refers to two elements of performance
The Conceptual Framework refers to two elements of performance. They are: Select one: a. liabilities and equity. O b. assets and liabilities. C. revenue and expenses. d. expenses and income.
Answer:-
d) Expenses and income
Explanation:-
The Conceptual Framework identifies two elements are income and expenses as the elements of financial performance.
Note :- defines those elements in terms of changes in assets and liabilities
