Issuance of common stock for cash affects which basic element of financial statements

Which of the following is not a basic element of financial statements?

Losses.

Revenue.

Assets.

Balance sheet.

Issuance of common stock for cash affects which basic element of financial statements?

Losses.

Liabilities.

Equity.

Revenues.

Preparation of consolidated financial statements when a parent-subsidiary relationship exists is an example of the

economic entity assumption.

relevance characteristic.

comparability characteristic.

neutrality characteristic.

The assumption that a company will not be sold or liquidated in the near future is known as the

economic entity assumption.

none of these answer choices are correct.

monetary unit assumption.

periodicity assumption.

The measurement principle includes the

historical cost principle and the fair value principle.

historical cost principle only.

revenue recognition principle and expense recognition principle.

fair value principle only.