The broad categories of information reported on a business's financial statements are referred to as
A) accounts.
B) elements of the financial statements.
C) components.
D) assets.

Question

Quizplus · Accepted Answer

The broad categories of information reported on a business's financial statements are referred to as elements of the financial statements. These elements include assets, liabilities, equity, revenue, and expenses.

The Broad Categories of Information Reported on a Business's Financial