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Solution
.
According to IASB framework INCOME is the one of element of balance sheet which
increases in economic benefits during the accounting period in the form of inflows or
enhancements of assets or decreases of liabilities that result in increases in equity, other than
those relating to contributions from equity participants?

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  • 1. Solution . According to IASB framework INCOME is the one of element of balance sheet which increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants?