Which of the Following Is Not True Regarding the Asset-Liability

Multiple Choice

Which of the following is not true regarding the asset-liability approach to defining accounting elements?

A) The asset-liability approach focuses on the measurement of net assets.
B) The asset-liability approach is arguably superior to the revenue-expense approach.
C) The asset-liability approach is the basic orientation of current financial reporting practices.
D) SFAS No. 109 uses the asset-liability approach by focusing income tax accounting on the recognition of tax assets and liabilities.