6. Which one of the following statements about income is correct?
Group of answer choices
Income can be in the form of decreases of liabilities.
Increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.
Income may arise when there is control over the increase in economic benefits.
Income may arise from the recognition of an increase in the value of assets.
All of the statements are correct as explained below:
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