What are the three approaches and how do they differ

Reference no: EM131529551

Question: 1. Three approaches have been advocated concerning the definition of accounting elements and the relationship between the balance sheet and income statement, What are the three approaches and how do they differ?

2. What is the meaning of "owners equity" in the balance sheet? Why are certain unrealized gains or losses included in owners equity?

Reference no: EM131529551

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