Economic Benefits – NBC Institute

AAA – Nov 2012 – L3 – AII – Q1 – Overview of Advanced Audit and Assurance.

Defines assets in the context of financial position.

Question

In the financial position of a company, ……………….. are resources arising from past events and for which future economic benefits are derivable.

Answer

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Tags: Accounting, Assets, Economic Benefits, Financial Position, Financial Reporting
Level: Level 3

Topic: Overview of Advanced Audit and Assurance
Series: NOV 2012

FA – MAY 2015 – L1 – SA – Q7 – Elements of Financial Statements

Identify the item that cannot be defined as income.

Question

Which of these statements CANNOT be defined as income?
A. Decrease in economic benefits during the accounting period
B. Increase in economic benefits during the accounting period
C. Decrease in liabilities
D. Gains arising on the disposal of non-current assets
E. Activities that enhance the net assets

Answer

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Tags: Economic Benefits, Financial Statements, Income
Level: Level 1

Topic: Elements of Financial Statements
Series: MAY 2015

AAA – Nov 2012 – L3 – AII – Q1 – Overview of Advanced Audit and Assurance.

Defines assets in the context of financial position.

Question

In the financial position of a company, ……………….. are resources arising from past events and for which future economic benefits are derivable.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting, Assets, Economic Benefits, Financial Position, Financial Reporting
Level: Level 3

Topic: Overview of Advanced Audit and Assurance
Series: NOV 2012

FA – MAY 2015 – L1 – SA – Q7 – Elements of Financial Statements

Identify the item that cannot be defined as income.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Economic Benefits, Financial Statements, Income
Level: Level 1

Topic: Elements of Financial Statements
Series: MAY 2015

Question Tag: Economic Benefits

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AAA – Nov 2012 – L3 – AII – Q1 – Overview of Advanced Audit and Assurance.

Defines assets in the context of financial position.

FA – MAY 2015 – L1 – SA – Q7 – Elements of Financial Statements

Identify the item that cannot be defined as income.

AAA – Nov 2012 – L3 – AII – Q1 – Overview of Advanced Audit and Assurance.

Defines assets in the context of financial position.

FA – MAY 2015 – L1 – SA – Q7 – Elements of Financial Statements

Identify the item that cannot be defined as income.

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Question Tag: Economic Benefits

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AAA – Nov 2012 – L3 – AII – Q1 – Overview of Advanced Audit and Assurance.

Defines assets in the context of financial position.

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FA – MAY 2015 – L1 – SA – Q7 – Elements of Financial Statements

Identify the item that cannot be defined as income.

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AAA – Nov 2012 – L3 – AII – Q1 – Overview of Advanced Audit and Assurance.

Defines assets in the context of financial position.

You're reporting an error for "AAA – Nov 2012 – L3 – AII – Q1 – Overview of Advanced Audit and Assurance."

FA – MAY 2015 – L1 – SA – Q7 – Elements of Financial Statements

Identify the item that cannot be defined as income.

You're reporting an error for "FA – MAY 2015 – L1 – SA – Q7 – Elements of Financial Statements"

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