The three basic elements of the balance sheet are ________.
A)operating activities,investing activities,and financing activities.
B)assets,liabilities,and shareholders' equity
C)revenues,expenses,and net income or loss
D)retained earnings,net income,and dividends

Question

Quizplus · Accepted Answer

The balance sheet is made up of assets, liabilities, and shareholders' equity. These three categories represent the resources owned by the company, the debts owed by the company, and the equity that shareholders have in the company. Operating activities, investing activities, financing activities, revenues, expenses, net income or loss, retained earnings, net income, and dividends are all important components of a company's financial statements, but they are not the basic elements of the balance sheet.

The Three Basic Elements of the Balance Sheet Are ________