According to the FASB's conceptual framework, gains include increases in equity from which of the following activities?
A) $$\begin{array} { | c | c | }
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { Yes } & \text { No } \
\hline
\end{array}$$
B) $$\begin{array} { | c | c | }
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { Yes } & \text { Yes } \
\hline
\end{array}$$
C) $$\begin{array} { | c | c | }
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { No } & \text { No } \
\hline
\end{array}$$
D) $$\begin{array} { | c | c | }
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { No } & \text { Yes } \
\hline
\end{array}$$

Question

According to the FASB's conceptual framework, gains include increases in equity from which of the following activities?
A) $$\begin{array} { | c | c | } 
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { Yes } & \text { No } \
\hline
\end{array}$$
B) $$\begin{array} { | c | c | } 
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { Yes } & \text { Yes } \
\hline
\end{array}$$
C) $$\begin{array} { | c | c | } 
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { No } & \text { No } \
\hline
\end{array}$$
D) $$\begin{array} { | c | c | } 
\hline \text { Investments by Owners } & \text { Peripheral Transactions } \
\hline \text { No } & \text { Yes } \
\hline
\end{array}$$

Quizplus · Accepted Answer

Gains are increases in equity from peripheral or incidental transactions, not from investments by owners.

According to the FASB's Conceptual Framework, Gains Include Increases in Equity