The Three Elements That Make Up a Balance Sheet Are

question 41

True/False

The three elements that make up a balance sheet are assets,liabilities and revenues.

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Definitions:

Reaction Formation

Reaction formation is a psychological defense mechanism in which an individual acts in a manner opposite to their actual feelings or desires.

Defense Mechanism

A psychological strategy unconsciously used to protect a person from anxiety arising from unacceptable thoughts or feelings.

Anal Stage

In Freudian psychology, a phase of child development characterized by focus on anal functions and the resultant conflicts.

Obedience

The act of following orders or directions from authorities or rules, a fundamental aspect in the study of social psychology.