Question: According to the IASB Framework, the two criteria required for incorporating items into the income statement or statement of financial position are that a. It

According to the IASB Framework, the two criteria required for incorporating items into the income statement or statement of financial position are that

a. It meets the definition of relevance and faithful representation.

b. It meets the definition of an element and can be measured reliably.

c. It satisfies the criteria of capital maintenance.

d. It meets the requirements of comparability and consistency.

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