Reference no: EM132690597

Problem 1: Profit can be defined as?

Select one:

a. The amount that can be distributed as a dividend while maintaining capital intact

b. Can be distributed at any time

c. The difference between income and expenses

Problem 2: Under the Framework, which of these statements is correct?

Select one:

a. Profit is not defined independently of income and expenses

b. A distinction is made between profit and gains

c. Profit is defined as the amount that can be distributed as a dividend whilst maintaining capital intact