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Which of the following statements is true?

a) Under IFRS, the term income refers to what would be called revenues and gains under

GAAP.

b) The term income is not used under IFRS

c) The term income refers only to gains on investments

d) Under IFRS, expenses include distributions to owners

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Question added by Deleted user
Date Posted: 2015/11/28

Option B is the answer for this question.

Wasim khan wazir
by Wasim khan wazir , Finance Specialist , Mott Macdonald

Option B. ..........................@@@@@@@@@@@@@@@

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