Question: Briefly define the financial accounting elements: (1) Assets, (2) Liabilities, (3) Equity, (4) Investments by owners, (5) Distributions to owners, (6) Revenues, (7) Expenses, (8)

Briefly define the financial accounting elements:
(1) Assets,
(2) Liabilities,
(3) Equity,
(4) Investments by owners,
(5) Distributions to owners,
(6) Revenues,
(7) Expenses,
(8) Gains,
(9) Losses,
(10) Comprehensive income.

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