Income as per IFRS

[allalongthewatc]

Can someone please explain this:?
[question removed by moderator]
I am really lost.

 

[S2000magician]

Answer a) would be an economic detriment.
Answer b) would include writing up assets to fair market value; this would appear on the income statement.
Answer c) would include things like proceeds from issuing stock, which does not appear on the income statement.

 

[allalongthewatc]

Thanks S2000magician. I sincerely appreciate your help. I’ve a quick follow-up question, if you don’t mind. What if, B) were “enhancement of assets related to owners’ contributions” –would that be considered Income?

 

[S2000magician]

allalongthewatchtower wrote: Thanks S2000magician. I sincerely appreciate your help.

My pleasure.

allalongthewatchtower wrote: What if, B) were “enhancement of assets related to owners’ contributions” –would that be considered Income?

No.
When you issue stock, you get cash, enhancing your assets. It isn’t income, however.