What are the elements related to the measurement of financial performance quizlet?
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Century 21 Accounting: General Journal11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman 1,012 solutions Financial Accounting4th EditionDon Herrmann, J. David Spiceland, Wayne Thomas 1,097 solutions What are the elements related to the measurement of financial performance?49 The elements directly related to the measurement of financial position are assets, liabilities and equity.
What are the elements of financial elements?The elements of the financial statements will be assets, liabilities, net assets/equity, revenues and expenses.
Which measurement basis is currently used in financial statements?Historical cost is the measurement basis most commonly used today, but it is usually combined with other measurement bases.
Which of the following is not one of the elements of financial reporting?Explanation Cash flows are reported but they are not an element. The elements are assets, liabilities, income (revenues), expenses and equity.
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