Which of the Following Is Not True Regarding the Revenue-Expense

Multiple Choice

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

A) The revenue-expense approach defines assets and liabilities as a by-product of revenues and expenses.
B) Under the revenue-expense approach, the balance sheet is burdened with by-products of income measurement rules.
C) Deferred charges and deferred credits are ambiguous debits and credits that appear on the balance sheet under the revenue-expense approach.
D) There are very few examples of the use of the revenue-expense approach in recent accounting standards.