Who among the following will least likely be

60. Who among the following will least likely be interested in the company’s performance?
a. Investors
b. Shareholders
c. Government
d. community
61. It refers to an increase in economic benefits in the form of an increase in assets or a decrease in
liabilities resulting in an increase in equity other than contributions from owners.
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62. An entity’s revenue may result from
63. They refer to increase in equity from peripheral or incidental transactions of an entity. 64. It refers to a decrease in economic benefits in the form of a decrease in asset or an increase in liability
resulting in a decrease in equity other than distributions to owners.
a. Asset
b. Liability
c. Income
d. Expense
65. Expense is recognized
66. In accounting, the term ‘probable’ means that the probability that an event will occur is 67. It is the process that involves the simultaneous recognition of revenue and expenses that result directly
from the same transactions or events
68. If an asset provides benefits for several periods, its cost is allocated to the periods benefited in the
absence of a more direct basis for relating the cost to revenue.
a. Associating cause and effect
b. Systematic and rational allocation
c. Immediate recognition
d. Instalment method