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1) Ten interrelated elements that are most directly related to measuring the performance and financial status of an enterprise are provided below.
1) Ten interrelated elements that are most directly related to measuring the performance and financial status of an enterprise are provided below.AssetsLiabilitiesEquityInvestments by ownersDistributions to ownersComprehensive incomeRevenuesExpensesGainsLossesIdentify the element or elements associated with the 12 items below:a) Arises from peripheral or incidental transactions.b) Obligation to transfer resources arising from a past transactionc) Increases ownership interestd) Declares and pays cash dividends to owners.e) Increases in net assets in a period from nonowner sourcesf) Items characterized by service potential or future economic benefitg) Equals increase in assets less liabilities during the year, after adding distributions to owners and subtracting investments by owners.h) Arises from income statement activities that constitute the entity's ongoing major or central operations.i) Residual interest in the assets of the enterprise after deducting its liabilitiesj) Increases assets during a period through sale of productk) Decreases assets during the period by purchasing the company's own stockl) Includes all changes in equity during the period, except those resulting from investments by owners and distributions to owners
SOLUTION:(f)(b)(i)(c)(k)(d)(l)(g)(e)(c)(j)(h)(h)(a)(a) AssetsLiabilitiesEquityInvestment by ownersDistribution to ownersComprehensive incomeRevenueExpensesGainLosses