Which of the Following Is Not True Regarding the Revenue-Expense

question 19

Multiple Choice

Which of the following is not true regarding the revenue-expense approach to defining accounting elements?

• A)The revenue-expense approach defines assets and liabilities as a by-product of revenues and expenses.
• B)Under the revenue-expense approach, the balance sheet is burdened with by-products of income measurement rules.
• C)Deferred charges and deferred credits are ambiguous debits and credits that appear on the balance sheet under the revenue-expense approach.
• D)There are very few examples of the use of the revenue-expense approach in recent accounting standards.

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