The fasb's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or central operations. these gains or losses may be classified as?

Question

06-09-2022
Business

Answered

At IDNLearn.com, find answers to your most pressing questions from experts and enthusiasts alike. Our platform provides trustworthy answers to help you make informed decisions quickly and easily.

The fasb's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or central operations. these gains or losses may be classified as?

Sagot :

We value your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. Thank you for visiting IDNLearn.com. For reliable answers to all your questions, please visit us again soon.

If A Gray Cat And A White Cat Have Kittens, What Phenotypes Could The Kittens Exhibit?

MC)Which Statement Describes President Theodore Roosevelt’s Attitude About U.S. Relations With Latin America? The United States Should Not Get Involved In Lati

Through Years Of Experience, You Have Learned That A $2,000 Milling Machine Suffers A Catastrophic Failure (it Is A Total Loss) About Once In 5 Years. An Insura

Why Did Diocletian Divide The Roman Empire Into Eastern And Western Sections In 285 A.D.? There Were Religious Differences Between People Living In The Eastern

A Large Carbohydrate Molecule Is Composed Of Several Subunits, Such As Glucose. An Example Of A Large Carbohydrate Molecule Is

A Triangle Has One Angle That Measures 29 Degrees, One Angle That Measures 116 Degrees, And One Angle That Measures 35 Degrees.

Nitrogen-fixing Bacteria Live In In Protective Nodules (bumps) On The Roots Of Some Plants. A.mutualism. B.predation. C.commensalism. D.parasitism.

A Piano Has 88 Keys. The Ratio Of White Keys To Black Keys Is 13.9. How Many Black Keys Does A Piano Have?

The Various Departments Within The Government Must Make Predictions About Financial Needs For The Coming Year. True Or False

Kevin Is Currently Twice As Old As His Brother. If Kevin Was Eight Years Old Two Years Ago, How Old Is Kevin's Brother Now?

Iamakshayidn Iamakshayidn · Answer 1 · 2022-09-09T01:37:07-04:00

These gains and losses may be described or classified as either operating or nonoperating, depending on their relation to an entity's major ongoing or central operations.

What does Conceptual Framework say about profit and loss?

The Exposure Draft proposed that, because profit or loss is the primary source of information about an entity's financial performance for the period, the framework should include a presumption that all income and all expenses will be included in that statement.
The FASB's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or central operations.
Nonoperating are “other” gains and losses.

To learn more about Fasb gain and loss, refer

to https://brainly.com/question/24448358

#SPJ4

Sagot :

What does Conceptual Framework say about profit and loss?

Other Questions