Which of the following is NOT a main element in the balance sheet?
A) assets
B) profit
C) shareholders' equity
D) liabilities.

Question

Quizplus · Accepted Answer

The main elements in a balance sheet are assets, liabilities, and shareholders' equity. Profit is not a main element in a balance sheet as it is a measure of a company's financial performance over a period of time, not a snapshot of its financial position at a given moment.

Which of the Following Is NOT a Main Element in the Balance