Which of the following is not true regarding the

3. Which of the following is not true regarding the revenue-expense approach to
defining accounting elements?
a. The revenue
4. -expense approach defines assets and liabilities as a by- product of revenues
and expenses.
b. Under the revenue-expense approach, the balance sheet is burdened with
by-products of income measurement rules.
c. Deferred charges and deferred credits are ambiguous debits and credits
that appear on the balance sheet under the revenue-expense approach.
d. There are very few examples of the use of the revenue-expense approach
in recent accounting standards. XXXXX
5. Which of the following is not true regarding the asset-liability approach to
defining accounting elements?

6. Which of the following is a true statement?
7. Which of the following is not a formal definition of assets that has been used by
the accounting profession in the United States?
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