Match the letter of each element with the appropriate definition.
-Increases in the equity (net assets)from peripheral or incidental transactions of an entity and from all other transactions and other events except circumstances from revenues or investments by owners.
A)Assets
B)Liabilities
C)Equity
D)Investments by owners
E)Distribution to owners
F)Comprehensive income
G)Revenues
H)Expenses
I)Gains
J)Losses

Question

Quizplus · Accepted Answer

Gains increase the equity of a company from transactions and events that are peripheral or incidental to its main operations, distinct from revenues or investments by owners.

Match the Letter of Each Element with the Appropriate Definition