Which of the Following Is Not Considered an Element of the Statement

question 10

Multiple Choice

Which of the following is not considered an element of the statement of financial position?

• A) Liabilities
• B) Equity
• C) Expenses
• D) Assets

Understand the requirements for reporting the liabilities of operating segments under various accounting standards.

Calculate and prepare proportionately adjusted balance sheets for joint operations.

Understand the factors that influence the definition and creation of news.

Recognize the diversity of practices and conventions in media work.

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Definitions:

Operating Cycle

The average time period between the acquisition of inventory by a business and the receipt of cash from the sale of that inventory.

Acquisition Of Inventory

The process of obtaining goods and materials for a company's operations, which could be for immediate use or to keep as stock for future sale or production.

Marketable Securities

Financial instruments that can easily be converted into cash, typically with high liquidity and short maturity periods.

Short-Term Financing

Borrowing options intended for use over a short period, often to support the day-to-day operations of a business.