Match the letter of each element with the appropriate definition.
-Decreases in the equity (net assets)from peripheral or incidental transactions of an entity and from all other transactions and other events and circumstances affecting the entity during a period,except those that result from expenses or distributions to owners.
A)Assets
B)Liabilities
C)Equity
D)Investments by owners
E)Distribution to owners
F)Comprehensive income
G)Revenues
H)Expenses
I)Gains
J)Losses

Question

Quizplus · Accepted Answer

Losses are decreases in the equity (net assets) of an entity, except those resulting from expenses or distributions to owners.

Match the Letter of Each Element with the Appropriate Definition