I find the distinction between income, revenue and gains confusing. This is a students statement overheard in
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‘I find the distinction between income, revenue and gains confusing.’ This is a student’s statement overheard in a corridor. Help this student by discussing the major issues involved.
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The Framework defines income as increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decrea...View the full answer
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Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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