Which of the Following Basic Elements of Financial Statements Is

question 152

Multiple Choice

Which of the following basic elements of financial statements is more associated with the balance sheet than the income statement?

• A) Equity.
• B) Revenue.
• C) Gains.
• D) Expenses.

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Definitions:

Adult

An individual who has reached maturity in terms of age, typically recognized legally and socially, and is considered capable of assuming adult responsibilities.

Sympathetic Division

The branch of the ANS that is most active during emotional responses, such as fear and anxiety, that spend the body’s reserves of energy.

Autonomic Nervous System

The part of the nervous system that controls involuntary bodily functions, such as heart rate, digestion, and respiratory rate.

Scared

A feeling of fear or anxiety often prompted by a perceived threat.