A separate recognition criteria for equity is not set forth in the Framework because it represents a residual interest in the assets of an entity.

Name: A separate recognition criteria for equity is not set forth in the Framework because it represents a residual interest in the assets of an entity.
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Question

Quizplus · Accepted Answer

The statement is true. The Framework does not provide a separate recognition criteria for equity because it represents a residual interest in the assets of an entity.

A Separate Recognition Criteria for Equity Is Not Set Forth