Which of the following is not true regarding the revenue-expense approach to def

Question

Which of the following is not true regarding the revenue-expense approach to defining accounting elements?

The revenue-expense approach defines assets and liabilities as a by-product of revenues and expenses.

"Under the revenue-expense approach, the balance sheet is burdened with by-products of income measurement rules."

Deferred charges and deferred credits are ambiguous debits and credits that appear on the balance sheet under the revenue-expense approach.

There are very few examples of the use of the revenue-expense approach in recent accounting standards.

The revenue-expense approach defines assets and liabilities as a by-product of revenues and expenses.

"Under the revenue-expense approach, the balance sheet is burdened with by-products of income measurement rules."

Deferred charges and deferred credits are ambiguous debits and credits that appear on the balance sheet under the revenue-expense approach.

There are very few examples of the use of the revenue-expense approach in recent accounting standards.

Explanation / Answer

Which of the following is not true regarding the revenue - Expense approach to defining Accounting Elements Answer is Option (4) There are very few examples of the use of the revenue-expense approach in recent accounting standards. The following are true regarding revenue - expense approach Assets and Liabilities are defined by Products of reveues and expenses balance sheet is burdened by   Products of reveues and expenses Deferred charges and deferred credits are Shown on the blance sheet under    reveues and expense in recent amendament ,several number of examples for use of revenue - expense method

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