The Conceptual Framework refers to two elements of performance

Accounting Aug 17, 2020

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.

Expert Solution

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

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