Elements of financial statements do not include:
A) Monetary unit.
B) Investments by owners.
C) Comprehensive income.
D) Losses.

Question

Quizplus · Accepted Answer

The elements of financial statements typically include assets, liabilities, equity, income, expenses, and, in broader frameworks, items like comprehensive income and investments by owners. However, "Monetary unit" is not considered an element of financial statements; it is a measurement concept used within those statements.

Elements of Financial Statements Do Not Include