The IASB issued an Exposure Draft relating to the conceptual framework in 2015. Regarding presentation and disclosure, what change does this draft propose?
A. renaming the balance sheet to the periodic statement of performance
B. renaming the statement of profit or loss to the statement of income or deficit
C. renaming the balance sheet to the statement of financial health
D. renaming the statement of profit or loss to the statement of financial performance
Answer:D
The IASB issued an Exposure Draft relating to the conceptual framework in 2015. Regarding presentation and disclosure, what change does this draft propose?
A. renaming the balance sheet to the periodic statement of performance B. renaming the statement of profit or loss to the statement of income or deficit C. renaming the balance sheet to the statement of financial health D. renaming the statement of profit or loss to the statement of financial performance